Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Bali's Property Deals Used for Money Laundering?
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
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

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Bali's Property Deals Used for Money Laundering?

Property Companies and Agent Reminded of Legal Obligation to Report Any Transactions in Which Money Laundering is Suspected.


Bali News: Indonesia, PPATK, Natsir Kongah, property companies, property agents, money laundering
Click Image to Enlarge

(4/16/2011)

The Center for the Reporting and Analysis of Financial Transactions (PPATK) says property companies must report whenever they suspect criminality, such as money laundering, is part of a property sale.

As reported by Bisnis.com, the Anti-Money Laundering Law Number 8 of 2010 puts the responsibility for reporting suspicious financial transaction in the property sector on the shoulders of 20 different professions including property companies and property agencies. Natsir Kongah, the spokesman of the PPTAK, said: "They (property companies and properly agents) are required to report suspicions of money laundering to the PPTAK as set forth in the law. The property sector is suspected of having close connections with illegal gains from earlier transactions."

Speaking to the press, Natsir went on to elaborate a number of examples from the past when property transactions were later proved to have involved corrupted public funds.

Natsir said the PPATK is preparing a handbook entitled "Know Your Customer" for property companies' use in preventing the movement of illicit funds.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

   

 
 
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
Baliís Loses Much-Loved Tourism Pioneer
Ida Pedanda Gde Ngurah Karang Ė Founder of Segara Village Hotel Dies at 87
(12/22/2014)
Fun & Sun Costs More in South Bali
Price of Waters Sports at Tanjung Benoa, Bali Increase by 30%
(12/20/2014)
Fire in East Denpasar
Fire Destroys 7 Shop Houses in East Denpasar, Bali
(12/20/2014)
Mantra for Difficult Times
Australian Mantra Hotel Group Scales Down its Plans in Tough Bali Marketplace
(12/20/2014)
Be Prepared
Bali Identifies Areas at Risk of Natural Disaster and Maps Plans to Minimize Destruction
(12/20/2014)
When Sleighs Wonít Do
Bali Airport to Operate 134 Extra Flights Over Christmas and New Year Period
(12/20/2014)
When a Bay Becomes a Quagmire
Editorial: We Support Jakarta Globe Call for President Joko Widodo to Cancel the Benoa Bay Reclamation
(12/20/2014)
4.25 Million Foreign Tourists to Bali in 2015?
Bali Seeks to Add 500,000 Tourist Visitors in 2015
(12/20/2014)
That Takes the Lot!
Baliís Tanah Lot Temple Experiencing a Record Number of Visitors Leader Up to Year End Piodalan Ceremony
(12/20/2014)
Shanghaied No More
Singaraja, Bali Immigration Office Deports 282 Foreign Workers in 2014
(12/20/2014)
Different Strokes Apply in Bali
Pendawa Beach Visitors in Bali Reminded that Sexual Activity and Swimming While Menstruating are Strictly Not Allowed
(12/20/2014)
Bali Non-Stop to Cairn, Australia
JetStar to Fly Direct Three Time a Week Cairns to Bali Flights Starting in March 2015
(12/20/2014)
All [News]!