Featured Indonesia

Global remittance startups rush into Asia counting on deregulation

Cross-border payment startups are rushing into Asia as deregulation of the sector has enabled online services to operate in the region, in a major threat to existing banks. Among them, TransferWise, a U.K.-based online remittance company, will launch a debit card in Singapore in the next couple of months and in… Read More

NZ and Australia plan to lower remittances costs in Pacific

New Zealand is in talks with Australia to lower hefty money transfer fees in several Pacific Island countries, as “stubbornly high” costs strain the region’s economies and hamper UN targets. Remittances are a key source of earnings for many Pacific families who have relatives working abroad and the intervention comes… Read More

Ex-Garuda Indonesia boss arrested in major graft probe

The former CEO of Indonesian carrier Garuda has been arrested on money-laundering charges linked to a major corruption scandal that saw British engine-maker Rolls-Royce pay more than $800 million in fines, anti-graft investigators said. Emirsyah Satar’s arrest Wednesday comes over two years after he was named a suspect by Indonesia’s… Read More
10th August 2018
A $250 million superyacht, impounded as part of a hunt for assets linked to the multi-billion dollar investigation into 1Malaysia Development Bhd, arrived at a port in Malaysia on Tuesday about six months after it was seized. The Cayman Islands-flagged Equanimity was first seized in the Indonesian holiday venue of… Read More
6th August 2018
AP — Indonesia is returning a luxury yacht allegedly bought with funds stolen from a Malaysian state investment company after a monthslong legal battle, a police official said Sunday, The $250 million Equanimity is on its way to a border location where it will be transferred… Read More
19th April 2018
Indonesia’s government has proposed a law to parliament to limit cash transactions to curb bribery and money laundering in Southeast Asia’s biggest economy, the head of the country’s anti-money laundering watchdog said on Wednesday. The draft bill, which limits any cash payments to a maximum 100 million rupiah (£5,113), will… Read More
4th April 2018
Indonesia’s tax office plans to spend hundreds of millions of dollars to update its outdated technology to boost low tax compliance and raise revenue collection in Southeast’s largest economy, the country’s tax chief told Reuters. Indonesia completed one of the world’s most successful tax amnesties in 2017, but its very… Read More
7th March 2018
Indonesia issued rules this week requiring corporations to reveal details of beneficial ownership to the government, as part of efforts to tackle money laundering and terrorism financing in Southeast Asia’s largest economy. This comes at a time when Indonesia is trying to join the Financial Action Task Force (FATF), an… Read More
1st March 2018
Indonesia on Wednesday seized a luxury yacht on the island of Bali sought by the U.S. Department of Justice (DOJ) as part of a multi-billion dollar corruption investigation linked to Malaysian state fund 1Malaysia Development Berhad (1MDB). “We have been inspecting the crew since yesterday and now we are taking… Read More
17th November 2017
By Kate Lamb, Guardian The search for Indonesia’s house speaker Setya Novanto, who disappeared after becoming the target of an arrest warrant, came to a dramatic end on Thursday when he was reportedly found unconscious in hospital. The high-profile politician had been on his way to meet anti-corruption investigators when… Read More
9th October 2017
9 Ocotber 2017 By Cindy Silviana, Hidayat Setiaji, REUTERS Indonesia is investigating reports that $1.4 billion (1.07 billion pounds) held by Standard Chartered Plc (STAN.L) in Guernsey, mainly on behalf of Indonesian clients, was transferred to Singapore just before the island moved to new tax transparency rules, officials said. A… Read More
20th September 2017
Uber Technologies, facing a federal probe into whether it broke laws against overseas bribery, has embarked on a review of its Asia operations and notified U.S. officials about payments made by staff in Indonesia, people with knowledge of the matter said. As the Justice Department looks into a possible criminal… Read More
13th September 2017
Indonesia has issued new regulations aimed at curbing money laundering and terror-related financing across a broader range of financial service providers, including money changers, credit card issuers and electronic money providers. The move is part of efforts by Indonesia to bring rules up to international standards and join the Financial… Read More