PT Bank Jago Tbk has spoken out regarding the Indonesian Financial Transaction Reports and Analysis Center (PPATK) temporarily blocking certain customer accounts as part of the implementation of the National Movement for Prevention and Eradication of Money Laundering and Terrorism Financing.

This temporary blocking policy targets inactive or dormant accounts.

Throughout 2024, PPATK has temporarily suspended about 28,000 dormant accounts based on data obtained from banking institutions.

In response, Bank Jago expressed its support for the regulator’s measures and emphasized its full compliance with the applicable regulations.

“Bank Jago always complies with prevailing laws and regulations and supports the regulator’s efforts to maintain the integrity of the national financial system, including the temporary suspension of several customer accounts that occurred last weekend,” said Bank Jago’s Corporate Communication representative, Marchelo, in an official statement to CNNIndonesia.com on Monday (May 19).

Marchelo noted that customer security and comfort are top priorities. Therefore, the bank continues to coordinate with regulators and customers to ensure that the affected accounts can be reactivated.

“We believe that customer security and comfort are paramount. Hence, we continually coordinate with regulators and customers to take necessary actions to enable the reactivation of these accounts,” he added.

Bank Jago has also provided guidance to customers on how to reactivate their accounts.

“Bank Jago has informed customers about the procedures to reactivate their Jago accounts. Customers can contact Tanya Jago at 1500746/021-30000746 or email tanya@jago.com for further assistance,” Marchelo explained.

Previously, PPATK clarified that the temporary suspension of thousands of dormant accounts is an effort to safeguard the national financial system’s integrity from criminal risks.

“This measure is part of the implementation of the National Movement for Prevention and Eradication of Money Laundering and Terrorism Financing carried out by PPATK and other stakeholders,” said PPATK Head Ivan Yustiavandana in a confirmation statement in Jakarta on Sunday.

He explained that dormant accounts are those which have had no activity such as withdrawals, deposits, or transfers for a long time, making them vulnerable to misuse for illegal activities.

“The temporary suspension of transactions on dormant accounts aims to protect account holders and prevent misuse by irresponsible parties,” Ivan said.

“We protect dormant accounts based on banking data we receive to prevent misuse by unauthorized parties, including hacking risks, criminals, and others,” he added.

According to Ivan, affected account holders still retain full rights over their funds and can apply for reactivation through their respective banks.

“Customers affected by the temporary suspension maintain full ownership of their funds and can request reactivation at their respective bank branches by following the required procedures,” Ivan stated.

Furthermore, he emphasized the importance of public awareness in closing inactive accounts, safeguarding personal data, and promptly reporting suspicious transfers.