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    Preventing Money Laundry Place, KUPVA BB Should Have License


    BANDUNG-Bank of Indonesia gave limit time until April 7th 2017 to those business holders of Foreign Currency Changing Not Bank (KUPVA BB) to process their license immediately.

    The Head of Division of Payment System and PUR of West Java Branch Office, Mikael Budisatrio said that it was done in order to ease in controlling activities of KUPVA BB and preventing them to do illegal things.

    "We have worry that KUPVA BB will be abused, for instance for money loundry until budgeting for terrorist," he said.

    According to Mikael, if the limit time has been determined but the managements of Money Changer still don't process the license then Bank of Indonesia with Policy of Republic of Indonesia will step in.

    "If there is KUPVA BB without license then our parties from Bank of Indonesia in West Java with West Java Policy will visit and give understanding and warning" Mikael said to www.Jabarprov.go.id during an event.

    According to Mikael, it is easy for KUPVA BB if they want to process the license. There is no fee that should be paid off, and the venture capital starts from IDR 100 million.

    "We will keep trying so that KUPVA BB or money changer is in accordance with the regulation. Until now, there are some KUPVA BB or money changer that are still on process," he said.

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