Featured Indonesia

On 17 January 2017, at Southwark Crown Court, Lord Justice Leveson approved a deferred prosecution agreement (“DPA”) between the Serious Fraud Office (“SFO”), and Rolls-Royce Plc and Rolls-Royce Energy System Inc (“Rolls-Royce”).[1] The third DPA agreed by the SFO has led some to wonder whether DPAs have finally come of age as a weapon the SFO’s enforcement arsenal. Read More
10th August 2018
A $250 million superyacht, impounded as part of a hunt for assets linked to the multi-billion dollar investigation into 1Malaysia Development Bhd, arrived at a port in Malaysia on Tuesday about six months after it was seized. The Cayman Islands-flagged Equanimity was first seized in the Indonesian holiday venue of… Read More
6th August 2018
AP — Indonesia is returning a luxury yacht allegedly bought with funds stolen from a Malaysian state investment company after a monthslong legal battle, a police official said Sunday, The $250 million Equanimity is on its way to a border location where it will be transferred… Read More
19th April 2018
Indonesia’s government has proposed a law to parliament to limit cash transactions to curb bribery and money laundering in Southeast Asia’s biggest economy, the head of the country’s anti-money laundering watchdog said on Wednesday. The draft bill, which limits any cash payments to a maximum 100 million rupiah (£5,113), will… Read More
4th April 2018
Indonesia’s tax office plans to spend hundreds of millions of dollars to update its outdated technology to boost low tax compliance and raise revenue collection in Southeast’s largest economy, the country’s tax chief told Reuters. Indonesia completed one of the world’s most successful tax amnesties in 2017, but its very… Read More
7th March 2018
Indonesia issued rules this week requiring corporations to reveal details of beneficial ownership to the government, as part of efforts to tackle money laundering and terrorism financing in Southeast Asia’s largest economy. This comes at a time when Indonesia is trying to join the Financial Action Task Force (FATF), an… Read More
1st March 2018
Indonesia on Wednesday seized a luxury yacht on the island of Bali sought by the U.S. Department of Justice (DOJ) as part of a multi-billion dollar corruption investigation linked to Malaysian state fund 1Malaysia Development Berhad (1MDB). “We have been inspecting the crew since yesterday and now we are taking… Read More
17th November 2017
By Kate Lamb, Guardian The search for Indonesia’s house speaker Setya Novanto, who disappeared after becoming the target of an arrest warrant, came to a dramatic end on Thursday when he was reportedly found unconscious in hospital. The high-profile politician had been on his way to meet anti-corruption investigators when… Read More
9th October 2017
9 Ocotber 2017 By Cindy Silviana, Hidayat Setiaji, REUTERS Indonesia is investigating reports that $1.4 billion (1.07 billion pounds) held by Standard Chartered Plc (STAN.L) in Guernsey, mainly on behalf of Indonesian clients, was transferred to Singapore just before the island moved to new tax transparency rules, officials said. A… Read More
20th September 2017
Uber Technologies, facing a federal probe into whether it broke laws against overseas bribery, has embarked on a review of its Asia operations and notified U.S. officials about payments made by staff in Indonesia, people with knowledge of the matter said. As the Justice Department looks into a possible criminal… Read More
13th September 2017
Indonesia has issued new regulations aimed at curbing money laundering and terror-related financing across a broader range of financial service providers, including money changers, credit card issuers and electronic money providers. The move is part of efforts by Indonesia to bring rules up to international standards and join the Financial… Read More
Must Read

EU states still divided over money laundering reform – sources

European Union states are still divided over an overhaul of rules for the supervision of banks against money laundering, two EU sources said on Wednesday. EU confidential documents show countries had agreed a preliminary common stance on the reform proposed by the European Commission in September which would give more… Read More

Former UBS trader jailed for Britain’s biggest fraud deported

Kweku Adoboli, a former UBS trader jailed for Britain’s biggest fraud over unauthorised trades that cost the Swiss bank $2.3 billion (1.7 billion pounds), has been deported to Ghana, his spokesman said. Adoboli was put on a commercial flight from Heathrow on Wednesday after being detained in Scotland earlier in… Read More