APG meets in Indonesia to tackle Money Laundering
On July 8, 2008, the 11th Annual Meeting and the 7th Annual Technical Assistance and Training Forum of the Asia/Pacific Group (APG) on Money Laundering opened in Bali, Indonesia’s resort island. The meeting will last till July 11.
At the opening ceremony, Indonesian Coordinating Minister for Political, Legal and Security Affairs Widodo AS Widodo noted that money laundering is a multidimensional crime and that, to overcome it, all APG members should work hard. According to the minister, efforts to prevent money laundering and terrorist financing should be made not only at national level but also at regional level.
Widodo said that the increasing rate of worldwide crime as a result of globalization is the real challenge. He also added that Indonesia was committed to anti-money laundering and counter-terrorist financing efforts.
At this meeting, the APG planned to evaluate the implementation of international standards against money laundering and terrorist financing issued by the Financial Action Task Force (FATF).