Financial Services Authority (FSA) summoned 3 banks that have affiliation with Singapore. FSA wants to clarify a report about Singapore Bank that reported Indonesian citizen for repatriating fund for tax amnesty (TA).
Irwan Lubis, Deputy Commissioner of Banking Supervisors III, said that the FSA called these banks which are Bank OCBC NISP Tbk (NISP), UOB Indonesia, and DBS Indonesia; to give an explanation for this report. Previously, there was an information about Singapore bank reported an Indonesian citizen that repatriated fund as suspicious transaction report to Singapore’s Commercial Affairs Department (CAD).
According to these banks, the report was done to fulfill the standard of Financial Action Task Force (FATF), a foundation that is build to avoid money laundering between each countries. But, the report had been stopped by CAD and the customer could keeps doing a transaction.
FSA requested for Singaporean affiliation banks to support and communicate the TA program with the Singapore-based parent company. (*)
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