Countering The Crimes of Money Laundering and Terrorism Financing in Indonesia Digital Banking: A Legal Approach Perspectives
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Jul 31, 2023
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Abstract
The practice of money laundering is not new nowadays. People have been transferring illegally obtained money (illegal money) to the legal system for a long time (the world of regular money). It is unlawful to possess this kind of money, thus this is done to try to prevent getting caught. Whereas acts of providing, gathering, donating, or lending money, directly or indirectly, with the intent to be used and/or which are known to be used to support terrorist activities, terrorist groups, or terrorists, are considered to be funding terrorism. During the Covid-19 pandemic, digital banking in Indonesia grew rapidly, making transactions for customers relatively simple. Thus, if the government does not make significant steps to combat terrorism financing with the many current legislation, this will become an issue. As a result, in order to stop the financing of terrorism in Indonesia, digital banks must have an AML-CFT system that includes customer due diligence and regular client evaluations. To stop these problems, a number of linked institutions have regulations.
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Ramadianto, Anang, and Bayu Wicaksono. 2023. “Countering The Crimes of Money Laundering and Terrorism Financing in Indonesia Digital Banking: A Legal Approach Perspectives”. Indonesian Journal of Counter Terrorism and National Security 2 (2). https://doi.org/10.15294/ijctns.v2i2.66841.
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FATF. “Review to Identify Non-Cooperative Countries or Territories: Increasing the Worldwide Consequenceiveness of Anti-Money Laundering Measures,” n.d. https://www.fatfgafi.org/media/fatf/documents/reports/2000%202001%20 NCCT%20ENG.pdf.
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H, Ping. Money Laundering: Suppression and Prevention – The Research on the Legislation Concerning Money Laundering. Germany: VDM, 2008.
H.A., Reda. Terrorist Financing: Are Current Anti-Money Laundering Regulations Easily Applied to Virtual Currencies? Colorado Technical University, 2017.
Harkrisnowo, Harkristuti. “Kriminalisasi Pencucian Uang (Money Laundering).” Makalah Disampaikan Pada Video Conference Nasional Yang Diselenggarakan Oleh PPATK, BI, UI, UGM, USU, UNDIP, UNAIR, Dan ELIPS, n.d.
INTRAC. Compilation of the Law on Ratification of the EDP Convention and International Anti-Money Laundering Standards, 2009.
J, Dermine. “Digital Banking and Market Disruption: A Sense of Dejà Vu?’ Financial Stability Review.” Banque de France 4, no. 3 (April 2016): 17–24.
Joyce, Peter, and Neil Wain. “Palgrave Dictionary of Public Order Policing, Protest and Political Violence. Palgrave Macmillan,” 2014.
K.A., Scott, and Stephenson R. “Enhanced Customer Due Diligence for Banks in the UK and the US” 21, no. 12 (2008): 86–108.
M, Sahinoglu. Bank Customer Service Risk: Quantitative Risk Assessment and Management. Ankara: Montgomery and ATILIM University, 2014.
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Passas, Nikos. “Global Anomie, Dysnomie, and Economic Crime: Hidden Consequences of Neoliberalism and Globalization in Russia and Around the World.” Social Justice Journal 27, no. 2 (2000): 104–23.
Prasetya, Adhitya Yuda, Subroto, and Nurish. “Model Pendanaan Terorisme Melalui Media Cryptocurrency.” Journal of Terrorism Studies 3, no. 1 (2021): 33–45. https://doi.org/10.7454/jts.v3i1.1030.
Reuter, Peter, and Edwin Truman M. Chasing Dirty Money: The Fight Against Anti-Money Laundering. The Peterson Institute for International Economics, 2004.
Ridwan, Arifin, Indah Sri Utari, and Subondo. “Upaya Pengembalian Aset Korupsi Yang Berada Di Luar Negeri (Asset Recovery) Dalam Penegakan Hukum Pemberantasan Korupsi Di Indonesia.” IJCLS (Indonesian Journal of Criminal Law Studies) 1, no. 1 (2017): 105–37.
SS, Galazova, and Magomaeva LR. “The Transformation of Traditional Banking Activity in Digital.” International Journal of Economics and Business Administration 7, no. 2 (2019): 41–51. https://doi.org/10.35808/ijeba/369.
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