Indonesia has required dealers of vehicles, real estate, and precious metals to report single day transactions totalling 500 million rupiah and above.
The transactions must be reported to the Financial Transaction Reports and Analysis Centre.
This serves as an added measure to detect and prevent money laundering.
PPATK chief Muhammad Yusuf said the regulations were enforced because the modus operandi of money laundering has since changed and is no longer confined to business in the financial services industry such as banking, insurance and stock market.
PPATK has yet to enforce regulations requiring reports on suspicious transactions in the legal and public accountancy sectors, but it is empowered to obtain data and information on transactions from associations governing these professions.
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