Jumat, 18 Oktober 2019 | 11:06 WIB
Government Examines The Reducing of a Maximum Limit of Cash Transaction
Rabu, 18 April 2018 | 10:19 WIB
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Skalanews - The Government and Bank Indonesia are considering reducing the limit on currency transactions in the draft Law on Restrictions on Currency Transactions currently still being proposed is a maximum of Rp100 million.

Deputy Governor of BI Erwin Rijanto in a discussion in Jakarta on Tuesday (17/4), said the maximum limit of Rp100 million for a number of law enforcement agencies is still too high. Even the Corruption Eradication Commission (KPK) proposed a maximum limit of cash transactions of Rp25 million.

"The figure of Rp100 million is relatively high. But after developing and the community more using non-cash. We can discuss it to be changed," he said in the discussion of Optimalization of Criminal Assets Tracking through Quarter Money Restrictions.

In the draft of Limitation of Cash Transaction Limitation (PTUK), the maximum limit of the use of cash transactions is still limited to a maximum of Rp100 million for each transaction. However, the maximum limit is still discussed between the government, BI and law enforcement agencies. The maximum amount can still change during the discussion in the DPR.

In the future, if there are people who want to transact above the maximum amount, they must use banking finance system such as transfer. In addition to faster and more efficient transactions, it also aims to prevent money laundering and other financial crimes.

KPK Chairman Agus Rahardjo explained the proposal to reduce the maximum limit for cash transactions amounting to Rp25 million in order to narrow the space for the perpetrators of crime money laundering and corruption.

"If it can be reduced to Rp25 million, this is so that their space is getting narrower," he explained.

Chairman of the Draft Law Team of PTUK Yunus Husein stated there are a number of reasons why the maximum limit of cash transactions is Rp100 million. One of them is because many countries set Rp100 million as the maximum limit for currency transactions.

Article 30 of the Law on Money Laundering (TPPU) is Rp 100 million limit. Everywhere, cross-border countries are widely used Rp100 million. The above Rp100 million is considered high value, if the below is considered retail, "he said.

But Yunus said it was open to inputs to lower the currency transaction limit.

"If in the House repaired, reduced can be done. But in many countries use Rp100 million," he said.

According to the findings of PPATK, cash transactions often become a money launderer mode to make it difficult to track the source of funds and decide on the tracking of the flow of funds to the beneficiary.

Head of PPATK Kiagus Ahmad Badaruddin said with the restrictions on cash transactions will reduce the choice of society and encourage the settlement of transactions through the banking.

"The existing policy has implications for the economy in some aspects, such as the increasing number and flow of money coming into the banking system," he said. (Ant/Frida Astuti)