The Implementation of Beneficial-Owner Principle in Indonesia
“Indonesia Government regulates beneficial ownership principle in some regulations to create legal certainty. The regulations mentioned about the definition, limitation, also sanction for incompliance.” According to The Financial Action Task Force (FATF), beneficial owner refers to the natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a
