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Indonesia
OJK Issues New Regulation on Bank Financial Reporting
By Editors | 01/11/2024
Banks have 3 months to implement financial reporting controls and 6 months to assign responsibility for preventing fraud or manipulation in financial reports.
Market Infrastructure
Indonesia Targets 30 September Launch Date for New CCP
By Editors | 17/09/2024
The new central counterparty will carry out clearing and settlement of transactions involving interest rates and foreign exchange rates.
Crypto / Digital Assets
Indonesian Crypto Exchange Indodax Suffers DPRK Hack
By Nithya Subramanian | 16/09/2024
Indonesia’s largest crypto exchange is facing losses of up to $20mn from a hack allegedly perpetrated by a North Korea-affiliated actor.
Hong Kong Signs Anti-Corruption MoUs with Maldives, Indonesia
By Editors | 13/09/2024
Cooperation between the ICAC and the anti-corruption agencies of Maldives and Indonesia will cover information exchange, training and other collaborations.
Crypto / Digital Assets
Indonesia’s OJK is Preparing New Tax Rules for Crypto – Report
By Nithya Subramanian | 10/09/2024
The new tax regulations are part of a transition of crypto supervision in Indonesia from Bappebti to OJK, expected by early 2025.
AML / KYC
Indonesia Captures Former Philippine Mayor Charged for Money Laundering
By Editors | 05/09/2024
The former mayor Alice Guo fled the Philippines in July after she was accused of helping to set up an illegal online gambling and scam centre.
Capital / Liquidity
OJK Indonesia Requiring Banks to Disclose Details on Loan Rates
By Nithya Subramanian | 04/09/2024
Effective from October 2024, the new rules aim to enhance transparency, boost competition, and protect borrowers from excessive fees.
AML / KYC
Indonesia Blocks Online Gamblers from Accessing Financial Services
By Nithya Subramanian | 03/09/2024
Over 6,000 accounts have been blocked to prevent online gamblers from accessing financial services and “create a deterrent effect”.
Enforcement
Indonesia: IDX Dismisses Five Employees for IPO-related Bribery
By Nithya Subramanian | 03/09/2024
The OJK said it supports the “firm steps” taken by IDX in imposing sanctions on the violating parties.
Indonesia, Korea Set to Implement Local Currency Framework
By Editors | 02/09/2024
14 Indonesian and 7 Korean banks have been appointed to handle transactions between the two countries using local currencies.
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