As a continuation of the 2025 Payment System Blueprint (see November 2019 alert), which led to the successful implementation of key initiatives such as (i) the continued domestic and cross-border implementation of the Quick Response Code Indonesia Standard (QRIS) (see August 2019Ā andĀ September 2022Ā alerts), (ii) the National Open API Standard (SNAP) (see August 2021 alert), (iii) the real-time payments infrastructure (BI-FAST), and (iv) regulatory, licensing, and supervisory reforms (see January 2021 alert), Bank Indonesia has now…
In brief The New Criminal Code became the first piece of legislation passed into Law in 2023 and was promulgated on 2 January as Law No. 1 of 2023. Part one of our client alert series outlined the key features of the New Criminal Code (access here) and part two of our client alert series outlined the key features of digital information, bribery & corruption and money laundering-related crimes in the New Criminal Code (access…
In brief The New Criminal Code became the first piece of legislation passed into Law in 2023 and was promulgated on 2 January as Law No. 1 of 2023. In the next three years, the New Criminal Code will replace the 100-year old criminal code currently in place. Part one of our client alert series outlined the key features of the New Criminal Code (access here). In this part two of the series, we take a…
In brief This client alert discusses the new Indonesian criminal code, which in a few years will replace the existing criminal code. This alert outlines the key features of the new criminal code, and is the first of a series of client alerts on the new Indonesian criminal code. Snapshots of the New Criminal Code The House of Representatives and the Government of Indonesia approved the draft of the new criminal code on 6 December…