Most Suspicious Transactions from Embezzlement Cases in July 2023

The Financial Transaction Reports and Analysis Center (PPATK) reported 76,376 suspicious financial transactions from January to July 2023. This represents a 50.04% year-on-year (YoY) increase from the 50,904 reports in the same period of the previous year.

PPATK categorized these suspicious financial transactions based on the underlying crime. Embezzlement accounted for the largest share, comprising 42.97% of all reports received from January to July 2023.

Fraud was the second most common crime, representing 17.8% of reports. This was followed by other offenses punishable by four years imprisonment, accounting for 10.21%.

Gambling-related cases constituted a significant portion, making up 7.78% of reports. Suspicious transactions in the tax sector accounted for 6.01%.

Other criminal activities comprised 15.23% of the total reports received up to July 2023.

PPATK data also revealed that July 2023 saw 13,242 suspicious transaction reports, the second highest after February 2023, which recorded 14,707 reports.

Based on the reporting entity, non-bank institutions were the most frequent reporters, submitting 8,261 reports in July 2023. Commodity futures trading companies followed with 6,635 reports, and commercial banks submitted 4,948 reports in July 2023.

PPATK detailed the indicators of suspicious financial transactions based on Article 1, Paragraph 5 of Law No. 8/2010 as follows:

a. Financial transactions deviating from the profile, characteristics, or habitual transaction patterns of the relevant user;
b. Financial transactions by a user suspected of aiming to avoid mandatory transaction reporting by the reporting party as stipulated by this law;
c. Financial transactions conducted or cancelled using assets suspected to originate from criminal proceeds; or
d. Financial transactions requested by PPATK to be reported by the reporting party due to their involvement with assets suspected to originate from criminal proceeds.