On Tuesday, 28 November 2017, the Department of Commercial Law, Faculty of Law, Universitas Gadjah Mada, held a seminar entitled “Implementation of Law No. 9 of 2017 from the Perspective of Banking Secrecy.” The seminar was attended by representatives from tax offices, the Directorate General of Taxes, banks, legal bureaus, law faculties at universities across Yogyakarta, as well as students and lecturers from FH UGM.
The event was opened by Irna Nurhayati, S.H., M.Hum., LL.M., Ph.D., Acting Head of the Department of Commercial Law. She explained that the seminar aimed to examine the intersection between Law No. 9 of 2017 and the principle of banking secrecy. Following the opening, the seminar continued with presentations by Dr. Yuliana, S.H., MBA, from the Financial Services Authority (OJK); Dr. Ivan Yustiavandana, S.H., LL.M., from the Financial Transaction Reports and Analysis Center (PPATK); and Djangkung Sudjarwadi, S.H., LL.M., a taxation expert.
In her presentation, Dr. Yuliana explained that banking secrecy, which was once considered absolute, has gradually been relaxed to protect the public interest. Going forward, banking secrecy will remain in place but will no longer be absolute in order to safeguard public interests. Meanwhile, Dr. Ivan Yustiavandana emphasized that the disclosure of information under Law No. 9 of 2017 is not intended to undermine banking secrecy, but rather to identify potential criminal activity through the banking system. Djangkung Sudjarwadi further explained that the provisions on information disclosure do not necessarily make banking secrecy more vulnerable.
The seminar was closed by Dr. Mailinda Eka Yuniza, S.H., LL.M., Vice Dean for Research, Community Service, Cooperation, and Alumni Affairs, followed by the presentation of commemorative gifts and a group photo.
