We are creating some awesome events for you. Kindly bear with us.

The Importance of Using Big Data in Combating Money Laundering

Head of the Center for Financial Transaction Reports and Analysis (PPATK), Ivan Yustiavandana, said that the wide opportunity to conduct digital transactions through various electronic payment facilities has resulted in a very complex ecosystem and has made it more difficult to identify and track suspicious financial transactions, thus triggering a high volume of transaction data.

Monitoring suspicious transaction patterns will be difficult to detect if only relying on traditional tools. The use of digital technology by money laundering actors is a challenge that needs to be addressed immediately by all parties, one of which is by using big data analytics

Big data analytics makes it possible to process and analyse large volumes of nonlinear data and identify hidden patterns and correlate seemingly unrelated data. Big data analytics is not only used to reveal a crime but can also predict an event through processing large volumes of data, both linear and nonlinear data from different sources so that it can detect anomalies quickly.

For PPATK and law enforcement, big data tools can be used to map and visualise so that they can provide a more complete picture of the flow of illegal funds and identify geographic areas, industries, channels and parties suspected of being involved in a crime. The use of big data analytics to combat money laundering is in line with The FATF Report on Opportunities and Challenges of New Technologies for AML/CFT.

PPATK is currently no longer able to work traditionally. In the era of technology 4.0 and the era of 5.0 Money Laundering, it is no longer time to work based on textbooks, but must be able to get out of the box. The dynamics of criminal acts that continue to develop rapidly are the reason, and Big Data is also one of their tools to carry out their actions. For this reason, it is necessary to have a common goal and commitment from all stakeholders to collaborate and synergise, creating a database that is assembled into valuable information to prevent various economic crimes.

The development of technological innovations has encouraged the development of financial products and services to become more advanced and complex, and the advancement of information technology that eliminates state boundaries has resulted in the facilitation of transnational organised crime, thereby increasing the risk of money laundering.

In response to these developments, the Financial Services Providers (FDD) which are under the authority of Bank Indonesia, such as Non-Bank Money Value Transfer Services and Foreign Exchange Business Activity Operators shall improve the quality of risk-based Anti-Money Laundering.

As reported by OpenGov Asia, Indonesia’s central bank, Bank Indonesia (BI), has continued its innovative initiatives by launching the long-awaited BI-Fast, a real-time retail payment system infrastructure, to meet public demand for fast, mobile, secure and low-cost transactions. BI-Fast was established to serve industrial consolidation and end-to-end integrated digital economy and finance (EKD), a national step toward realising the Indonesia Payment System Blueprint (BSPI) 2025 and to meet public demand for a fast, easy, affordable, safe, and reliable payment system, according to BI Governor Perry Warjiyo.

BI-FAST is a national retail payment system that allows people to make payments using a variety of instruments and payment channels in real-time, 24 hours a day, seven days a week. Real-time transaction settlement at the bank and customer levels, 24/7 availability, real-time validation, and notification, use of a proxy address as an alternate solution recipient account number, and reliable security features such as fraud detection and an anti-money laundering/countering the financing of terrorism (AML/CFT) system are just a few of the highlights of BI-FAST. Individual credit transfer services are expected to be available by the end of 2021.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend