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 · Time for Change
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

Time for Change

Foreign Exchange Association Call for Stronger Law Enforcement Against Illegal Moneychangers. But is the Problem Only Unlicensed Moneychangers?

Bali News: Bali, Indonesia APVA, moneychanger, Keese van der Spek, Ayu Astuti Dama, SBS6, illegal money changers, fraud in Bali
Click Image to Enlarge


The Association of Foreign Exchange Dealers in Bali (APVA-Bali) are growing increasingly frustrated with the number of illegal moneychangers operating on the Island. 
As reported by Bisnis Bali, Bali main and side streets are peppered with illegal moneychangers. What’s worse, according to APVA, is that the number of illegal moneychangers operating in Bali now outnumber the legal entities. 
The chairman of operating board of APVA-Bali, Ayu Astuti Dama, said: “We have had the opportunity to count the number of money-changers in Seminyak. In Seminyak up until the Bintang Supermarket there were 14 moneychangers. Of these 6 were registered and 8 were not. This means 57% of the money-changers in that area are illegal.”
She said the presence of illegal moneychangers operating in Bali was a real headache. She added that the weak coordination of law enforcement in Bali did little to deter the activities of illegal moneychangers.
“Look at them, they openly operate (illegal moneychangers). The marks of an illegal operation are so easy to spot, they have no license to show,” Ayu complained. "The responsibility to close illegal moneychangers remains with law enforcement."
“We have continued to try to bring illegal money changers into line, but we feel that they continue to violate the law and do things that cause losses to registered currency traders,” she said.
Ayu said the existence of illegal moneychangers, primarily in the Badung regency of Bal,i is difficult to curtail unless the police and law enforcement agencies become serious in their work. She said the illegal moneychangers are working for a quick profit and do not care if they damage Bali’s reputation in the process.
Ayu Dama reminded how a report by a Dutch filmaker on the practices of illegal moneychangers committing fraud against foreign tourists caused a momentary panic among both police and the governor. For this reason, APVA-Bali is again calling on the government to intensify efforts to close illegal currency changers.
When asked what her association was doing to curb the presence of illegal moneychangers in Bali, she explained that APVA members were consolidating and offering standardized rates for currency transactions.
The deputy director of Bank Indonesia for Bali and East Nusa Tenggara, Bimantoro, joined APVA’s call for action by the police and the public to close illegal moneychangers.
But Seriously, Folks
But is Ayu Dama's desire to lay the blame for fraud at the feet of illegal moneychagers completely justified?
Have a look at the now notorious film clip made by filmmaker Keese van der Spek of Dutch TV Channel SBS6 of a moneychanger in Kuta committing and openly admitting to cheating a customer. Click the embedded video and focus you eyes just over the moneychanger’s shoulder to see the emblem of the APVA prominently displayed as he cheats a customer. Sadly, such documentation suggests that being a registered member of APVA Bali may count for little as a guarantee of safety for visiting tourists.
If the errant moneychanger is, in fact, a member of APVA-Bali, then the problem runs much deeper than mere registration.

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


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
Trip the Light Fantastic
Tango in Paradise – Masters of Dance to Perform in Bali Saturday, November 26, 2016
RIP: Sri Pitono: 1964-2016
Veteran Bali Travel Industry Member Sri Pitono Dies at Age 52
A Fatal Fall
English Hiker Falls to His Death on Mount Abang in Bali
Fatally Flawed Connection
Nine Dead and Many Injured as Pedestrian Bridge Collapses Connecting Nusa Lembongan and Nusa Ceningan
Bali’s Better on a Bicycle
Bali is the venue for a Cross Country Cycling event scheduled for Saturday, November 19, 2016
Forgive, But Never Forget
Governor Pastika Calls for Forgiveness at 14th Anniversary of 2002 Bali Bombing
When a Lake Becomes a Trash Bin
People of the Ancient Village of Terunyan at Lake Batur in Bali Discard Garbage in the Lake as Garbage No Longer Collected by Local Authorities
Bridges are Falling
Bridge Collapse in West Bali Isolates Communities and Businesses in Tabanan
Be of Good Cheer!
Rotary Club Bali Ubud Sunset Christmas Buffet Fundraiser on Sunday, December 4, 2016
Baksheesh Relief?
Special Team Formed to Battle Illegal Kickbacks Paid to Bali Police
Aborted Landing
Bali Airport Closes for 1.5 Hours to Make Emergency Runway Repairs
Charity as a Stretch
Westin Resort Nusa Dua, Bali hosts Family Yoga Session on the Beach for UNICEF on Sunday, November 27, 2016.
All [News]!