Purbaya Addresses Loopholes in Patriot Bonds for Money Laundering

JAKARTA, DDTCNews - Minister of Finance, Purbaya Yudhi Sadewa, has responded to concerns that the purchase of special securities, such as Patriot Bonds and Merah Putih Bonds, could potentially lead to loopholes for money laundering.

According to Purbaya, funds invested through the purchase of special securities issued by Danantara, such as Patriot Bonds and Merah Putih Bonds, will be managed to stimulate economic activities, and therefore, the origin of the funds is not a concern.

"Rather than keeping the money overseas indefinitely, let it enter the system. Yes, there is some loss, but in my view, the impact is that the money enters our economy and can be used for development," Purbaya explained on Tuesday (23/6/2026).

Purbaya clarified that the government's current focus is on encouraging funds to enter the official financial system, thereby, they can be used for state financing.

Once an individual or a party has used their funds to purchase special securities issued by Danantara, the government will not investigate or question the source of those funds.

This is not the case if an individual or a company uses their funds to purchase other financial instruments while committing violations or fraud. In such cases, law enforcement authorities are authorised to pursue those business people or investors and bring them before the courts.

"Only the money that enters [investment in special securities is exempt from general criminal and tax criminal provisions]. The money that remains overseas is a separate matter. The point is that money invested there [in Patriot Bonds and Merah Putih Bonds] is safe, but the company itself is not immune," said Purbaya.

Please note that the government has recently enacted Law 4/2026 on the Amendment to Law 4/2023 on the Development and Strengthening of the Financial Sector (P2SK). This legal framework enables BPI Danantara to issue securities.

Securities issued by Danantara comprise general securities as well as special securities, such as Patriot Bonds and Merah Putih Bonds.

Pursuant to Law 4/2026, every purchase of special securities by investors constitutes a lawful transaction within the national financial system. Accordingly, the state provides protection for the purchase of such special securities.

"The state shall guarantee and protect the purchase of special securities ... from general criminal prosecution, special criminal prosecution, including tax criminal prosecution and from civil lawsuits," reads Article 50A paragraph (5) of Law 4/2026.

Further, Law 4/2026 also stipulates that data and information arising from the purchase of special securities cannot be used as a tax base, nor as legal evidence in litigation before the courts.

On another note, the state's protection in respect of purchases of special securities applies only to transactions conducted on the primary market. (rig)