Abstract
The Prevention and eradication of money laundering, as part of the new paradigm in the effort to combat crimes, has its own mechanism in both national and international cooperation, particularly in relation to information exchange. The cooperation is pursuant to a Memorandum of Understanding, but can also be simply pursuant to the principle of reciprocity among parties. Once effective, this cooperation will strengthen the performance of Indonesian Financial Transaction Report and Analysis Center (INTRAC/PPATK) in performing its duties and exercising its authority as the Financial Intelligence Unit.
Highlights
It is interesting to note the statement made by the new appointed Minister of Energy and Mineral Resources, Dr Darwin Zahedy Saleh, claiming that there should be no capping of operational cost recovery
The end of October 2009, Indonesian Financial Transaction Reports and Analysis Centre (INTRAC) has entered into 31 Cooperation arrangements within the country and 31 Cooperation arrangements overseas through the signing of Memorandums of Understanding. His efforts of national and international cooperation implemented by INTRAC provide an interesting and special study in the field of law and international relations, because INTRAC itself is a financial intelligent unit newly established in Indonesia
The Indonesia Petroleum Association (“IPA”) has been warning against including the CR in the State Revenues and Expenditures Budget
Summary
It is interesting to note the statement made by the new appointed Minister of Energy and Mineral Resources, Dr Darwin Zahedy Saleh, claiming that there should be no capping of operational cost recovery (hereinafter abbreviated “CR”). In his words, “such capping is causing concern, as it would hamper investment”[3]. As stated by the Minister, the focus of attention is on the security of investment flow.[4] Certain circles within the House of Representatives (“DPR”) have been voicing the opinion for a long time that CR should be capped. The Indonesia Petroleum Association (“IPA”) has been warning against including the CR in the State Revenues and Expenditures Budget
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