The Business Competition Supervisory Commission (KPPU) under the new leadership conveyed efforts to increase coordination with the Financial Transaction Reports and Analysis Center (PPATK), especially to handle and prevent criminal acts of money laundering in merger and acquisition transactions which are closely related to beneficial owners. The importance of supervising the beneficial owners had been regulated in the President Regulation (Perpres) No. 13/2018 on the Implementation of Principles of Recognizing the Beneficiaries of Corporations in the Framework of the Prevention and Eradication of Money Laundering and Criminal Acts of Terrorism, otherwise known as the Perpres on Beneficial Ownership. However, its implementation is far from satisfactory.To subscribe please click here
