Indonesia issues rules on company ownership to tackle money laundering

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March 7 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.

All companies, foundations, limited partnerships and other types of corporations must disclose at least one person as their beneficial owner upon registering for business, the regulation, signed by President Joko Widodo on March 1, stated.