Suspicious Financial Transaction Reports Increased by 4.65% in 2024

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Erlina Fury Santika 21/01/2025 17:54 WIB

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The Financial Transaction Reports and Analysis Center (PPATK) revealed that the number of suspicious financial transaction reports (LTKM) throughout 2024 reached 136,546 reports. This is the monthly t

Number and Growth of Suspicious Financial Transaction Reports (SFTR) per Month (2023-2024)

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Number and Growth of Suspicious Financial Transaction Reports (SFTR) per Month (2023-2024)

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The Indonesian Financial Transaction Reports and Analysis Center (PPATK) reported that the number of suspicious financial transaction reports (LTKM) in Indonesia reached 136,546 in 2024.

This figure is up 4.65% year-on-year (YoY) from 130,472 reports in 2023.

Broken down by month, the highest number of reports occurred in October 2024, with 18,026 reports.

October's reports surged by 54.2% month-to-month (MoM) from September 2024, which had 11,687 reports.

The lowest number of reports in 2024 was in April, with 6,527 reports.

The total number of reporters up to December 2024 reached 573 from various industry groups, professions, and individuals.

The majority of reporters came from the non-bank sector (362 reporters), followed by banks (146 reporters), and public procurement (49 reporters).

PPATK detailed that the non-bank sector includes money changers, money transfer operators, insurance companies, financing companies, securities companies, investment managers, and others.

The highest number of reported transactions originated from banks, with 6.72 million suspicious transactions. This was followed by non-banks (3.8 million transactions), rural banks (348 transactions), public procurement (217 transactions), and professions (37 transactions).

According to Law No. 8 of 2010 concerning the Prevention and Eradication of Money Laundering Crimes, suspicious transactions are defined as follows:

* Financial transactions that deviate from an individual's profile, characteristics, or usual transaction patterns;
* Transactions suspected of aiming to avoid reporting to the authorities;
* Transactions using assets suspected of originating from criminal proceeds; or
* Transactions requested by PPATK to be reported because they involve assets suspected of originating from criminal proceeds.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."