Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Bali's Property Deals Used for Money Laundering?
Bali Hotels, Bali Villas and Bali News from
Bali Hotels
Bali Villas
Special Deals!
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Bali Update
Subscribe to our free weekly newsletter!
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

++62 361 286 283

++62 361 286 284

U.S.A. Fax:(toll free)

U.K. Fax:

Australian Fax:

++62 812 3819724

Bali Discovery

Bali News

Bali's Property Deals Used for Money Laundering?

Property Companies and Agent Reminded of Legal Obligation to Report Any Transactions in Which Money Laundering is Suspected.

Bali News: Indonesia, PPATK, Natsir Kongah, property companies, property agents, money laundering
Click Image to Enlarge


The Center for the Reporting and Analysis of Financial Transactions (PPATK) says property companies must report whenever they suspect criminality, such as money laundering, is part of a property sale.

As reported by, the Anti-Money Laundering Law Number 8 of 2010 puts the responsibility for reporting suspicious financial transaction in the property sector on the shoulders of 20 different professions including property companies and property agencies. Natsir Kongah, the spokesman of the PPTAK, said: "They (property companies and properly agents) are required to report suspicions of money laundering to the PPTAK as set forth in the law. The property sector is suspected of having close connections with illegal gains from earlier transactions."

Speaking to the press, Natsir went on to elaborate a number of examples from the past when property transactions were later proved to have involved corrupted public funds.

Natsir said the PPATK is preparing a handbook entitled "Know Your Customer" for property companies' use in preventing the movement of illicit funds.

© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to


Plaga Wine
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!

Our [Privacy Statement] explains how we handle the data you are providing.

Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!

or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Ace Trumps Hotels and Restaurants in Bali
Cok Ace’ Elected to Third Term as Chairman of Bali-PHRI
Unbeatable Seller Prices for BBTF 2016
Seller Discounts for Bali & Beyond Travel Fair 2016 for Confirmed Bookings Made Before November 30, 2016
The More the Merrier?
Denpasar Administration will Not Impose Moratorium on New Hotels
GO-JEK Doesn’t Deliver Grass
Famous Indonesian Musician Caught with Marijuana After Using Go-Jek Driver for a Drug Pick Up
When Passengers Roar at the Lion
Angry Lion Air Passengers Commandeer a Runway at Jakarta’s Airport
Indonesians Encouraged to Visit Australia
Australia Introducing Easier Visa Controls to Encourage Indonesians to Visit Australia
Striving for Safety
PHRI: Majority of Hotels Falling Short on Security and Safety Assessments
Buy My Horse, He's Hungry
Competing with Modernity, 80-year Old Dokar Driver in Bali’s Capital of Denpasar Faces Difficulty in Feeding Himself and His Horse
Banyuwangi Flights from Bali Axed
Garuda Indonesia Cancels Bali to Banyuwangi, East Java Flights
You Raise Me Up
New Minimum 2016 Wage Levels Announced for Badung Regency and Denpasar in Bali
RIMBA Takes Mexican Food to New Heights
UNIQUE Rooftops Bar & Restaurant at RIMBA Jimbaran Offers Authentic Mexican Cuisine
Ready, Aim. . . Wait!
Indonesia Put Stay on Further Executions While Economy Idles
All [News]!