Featured Indonesia

Superyacht linked to 1MDB probe arrives at Malaysian port

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

Money laundering: Indonesia returning yacht at center of Malaysia graft probe

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

Indonesia seeks to limit cash transactions to fight bribery

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Indonesia’s tax office plans to spend hundreds of millions of dollars to update its outdated technology to boost low tax compliance and raise revenue collection in Southeast’s largest economy, the country’s tax chief told Reuters.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
17th July 2017
What exactly is a tax haven? As far as we are aware, there is no universally accepted definition. Typically, the term is used to describe a jurisdiction that offers favorable tax or other conditions. It is therefore a relative term. So relative to Indonesia, Singapore appears to be a tax… Read More
5th July 2017
The Financial Action Task Force (FATF) on Anti-Money Laundering and Combatting the Financing of Terrorism (AML/ CFT) under the Organization for Economic Cooperation and Development (OECD) has commended Indonesia for what it sees as its significant progress in addressing strategic deficiencies in the fight against dirty money. The task force’s… Read More
24th May 2017
One in five banks in the Asia Pacific expects tax evasion in 2017 to increase 100 to 500 per cent over last year’s levels according to a recent poll by data analytics firm Fico. A further one in five senior fraud managers surveyed said they expect the increase to be… Read More