By : smartdeal

Date : 16 October 2017

smartdeal collaborate with PPATK to held an Anti Money Laundering Training

Currency exchange seems like a simple business of trading one currency into another, but there is a lot more to it as businesses have to comply with rules and regulation. With regards to the need of knowledge concerning these rules and regulation, smartdeal collaborate with PPATK (Indonesian Financial Transaction Reports and Analysis Center/INTRAC)  to conduct an Anti-Money Laundering and PPATK report training.

The training is divided into small classes and is held several times to ensure that each class proceeds effectively. It is expected for smartdeal’s employees to gain insight and knowledge regarding the danger and threat of money laundering that happens in the industry. Employees are further educated about the reporting structure and criteria of a good PPATK report.

The first training session was held on Wednesday 20^th of July , led by Mrs. Ayu Utami from PPATK. It covers the topic of financial report of suspicious transaction (LTKM = Laporan Transaksi Keuangan Mencurigakan), what falls such category, what needs to be reported and how to make a suitable PPATK report to cater for their surveillance purposes.

The training continues with explanation of Anti-money laundering, led by Mrs. Yuanita Retno S, educating smartdeal’s employees regarding the need to report to PPATK and what causes it. Indonesia was blacklisted by FATF and now has managed to came out of it by organizing a legal entity that oversees and manages financial transactions in Indonesia.

The session explains the stages of money laundering : structuring, layering and placement. The purpose of this session is to provide insight for smartdeal’s empoyees to thoroughly understand indications of money laundering activities. At the end of the session case studies were discussed in order to provide in depth understanding and concrete examples of money laundering.

smartdeal management hopes that this training and workshop will enlighten and broaden employee’s knowledge .The training will equip smartdeal’s employees with the skill to report any money laundering activities to PPATK.