RI, Bangladesh to cooperate in fighting money laundering

The Jakarta Post, Jakarta | Thu, 03/19/2009 3:50 PM

Indonesia and Bangladesh have agreed to cooperate in the prevention of and fight against money laundering and the funding of terrorism, a top official said Thursday.

Deputy head of Indonesia's Financial Transaction Reports Analysis Center (PPATK), Wahyu Hidayat, said in a press statement that both countries signed the cooperation agreement on the prevention and fight against money laundering and terrorism financing on Monday.

He said the agreement was signed by PPATK head Yunus Husein, representing Indonesia, and MD Abdul Quasem, executive director and head of the Financial Intelligence Unit (FIU) of Bangladesh's Central Bank's Anti-money Laundering Department.

Hidayat said that both countries would exchange financial intelligence information as part of efforts to reinforce international cooperation in fighting against money laundering and the financing of terrorism.

Corruption constituts a big problem for Indonesia and Bangladesh. The two countries agreed to exchange information and extend assistance to one another in the prevention and eradication on money laundering.

Both countries have agreed that the exchanged information will be treated as highly confidential.

Indonesia has made similar agreements with 28 other foreign partners. (dre)