The Indonesian Anti-Money Laundering 2016 Report

Indonesian banks have been making significant progress in improving their AML processes and infrastructure in the last few years. With the help of government support, such as the issuance of law No.9/2013 on Terrorism Funding Crime Eradication and Prevention and Law No.8/2010 on Money-Laundering Crimes Eradication and Prevention, banks were forced to improve their KYC processes and take AML seriously. This has resulted in FATF removing Indonesia from their blacklist of states that are strategically weak in AML and terrorism funding in 2015.
 
But Indonesian banks still have a long way to go before they truly understand their customers and establishing world-class KYC processes. The Dragon Banker’s survey of Indonesian heads of AML and senior mangers have said that Indonesian banks are still vulnerable to money-laundering and financial crimes, and that banks still are not educating their staff enough to truly combat money laundering. Furthermore Indonesian banks also lack key processes and systems to gather and analyze key data to make strategic decisions and predict crimes before hey happen.
 
This report is the most authoritative source on how Indonesian banks are combating money laundering. The report is based off a survey with 15 bankers across anti-money laundering including heads of AML, heads of compliance, and senior directors and managers involved in AML in eight different banks in the country, including state-owned banks and international ones.

Reasons To Invest in This Report
 
The Dragon Bankers has extensive networks with Indonesian banks is due to its trainings in the region, publications, research throughout the country. This report will aid your team to accomplish the following:

• Get the names of the decision-makers within Indonesia’s AML departments.
• Understand in depth the decision-making process regarding purchasing AML software and the bidding process, and what banks look for in a bid for software.
• Learn about Indonesian bank’s weaknesses in AML software, the problems they are encountering in monitoring transactions, KYC, reporting, and training staff in AML.
• Gain deep insights into Indonesian bank’s main thoughts into what the regulators are planning, how the regulations have impacted the banks, and how they are planning on responding.

 
Who Should Invest In This Report?
This report Is Designed for the following decision makers:

• Technology venders based in Indonesia that are seeking to gain a comprehensive view of the latest developments in anti-money laundering regulations, bank’s software issues and the regions’ banking executives plans.
• Technology venders that are planning in near future to begin servicing banks in Indonesia in terms of anti-money laundering software.
• Regulators in are seeking to learn how Indonesian banks are monitoring their transactions, complying with AML regulations, and upgrading their software.
• Banks that are seeking to learn about the latest developments of AML in Indonesia and what the region’s decision makers are building the proper infrastructure to comply with local and international regulations.

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