70. Are reporting entities required to enforce enhanced due diligence policies and procedures regarding politically exposed persons?

"Number 13

The organizer is obliged to implement Customer Due Diligence on user’s services to ensure the effectiveness of anti-money laundering and prevention of financing terrorism implementation.

Number 34

(1) The operator shall have policies and procedures to identify potential users of services, users of services, or Beneficial Owner belonging to the Politically Exposed Persons category.

(2) In the case of a prospective users of services, users of services, or Beneficial Owner included in Politically Exposed Persons category, the operator must carry out the Enhanced Due Diligence.

(3) Implementation of enhanced due diligence shall be conducted on the politically exposed persons at least in the form of identification and verification as referred to in Number 16, Number 17, Number 20, Number 21, and Number 23 and:

     a. take the necessary steps to determine the source of funds; and

     b. increase monitoring including the additional transaction pattern criteria that need to be analyzed more continuously.

Number 35

Provisions applicable to the Politically Exposed Persons, as intended in Number 34 shall also apply to members of the Politically Exposed Persons family or parties related to the Politically Exposed Persons."

Source: Numbers 13, 34, 35, Bank of Indonesia Regulations on the Prevention of Money Laundering and Financing of Terrorism, 2017 (Unofficial translation by the researcher)

Take necessary steps to determine the source of funds and increase monitoring