Confiscation of Corporations Related to Corruption and Money Laundering in Economic Law

DOI

10.2991/978-2-38476-218-7_30How to use a DOI?

Keywords

Corporation; Corruption; Money Laundering

Abstract

Corporations, including both closed and public entities (Tbk), are notable developments of the contemporary era. Public companies (Tbk) are particularly noteworthy due to their global reach, enabling investors from any location with access to capital markets to participate and own these corporations. Therefore, it does not preclude the possibility that funds or money obtained through criminal activity could be invested in corporations for the purpose of developing, concealing, or laundering money. This essay is required to present logical justifications for why corporations may be seized on suspicion of engaging in criminal activity, despite the fact that the legal standing, rights, and responsibilities of a corporation are, in essence, equivalent to those of a “person” (natuurlijk person). The dispute arose when the Jakarta Corruption District Court denied the confiscation of corporations associated with PT. Jiwasraya (Persero) in the corruption and money laundering case. The court’s decision stated that corporations, being subjects of the law, cannot be seized. Nonetheless, corporate expropriation is a customary occurrence that is governed by various laws and regulations, including Article 18 of the Money Laundering Law and Article 15 of the Corruption Law. An examination of the opposition to corporate foreclosure through the lenses of economic analysis of the law and legal positivism is proposed. This analysis is anticipated to shed light on the essence of the law and safeguard the interests of investors at large.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Anggoro Arif Wicaksono
AU  - Hartiwiningsih Hartiwiningsih
AU  - Muhammad Rustamaji
PY  - 2024
DA  - 2024/02/22
TI  - Confiscation of Corporations Related to Corruption and Money Laundering in Economic Law
BT  - Proceedings of the International Conference On Law, Economic & Good Governance (IC-LAW 2023)
PB  - Atlantis Press
SP  - 191
EP  - 196
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-218-7_30
DO  - 10.2991/978-2-38476-218-7_30
ID  - Wicaksono2024
ER  -