Comparison of Regulations in the Eradication of Money Laundering Criminal Offence Originating From Narcotics Between the Countries of Indonesia and the United States of America

DOI

10.2991/assehr.k.220204.012How to use a DOI?

Keywords

Money laundering; narcotics; regulatory comparison

Abstract

Money laundering is a multi-dimensional and transnational crime. In the eyes of the international community, Indonesia is considered to be vulnerable to money-laundering and terrorism-financing practices due to its limited financial system regulations and ineffective law enforcement. INTRAC (Indonesian Financial Transaction Report and Analysis Centre) or known as “PPTAK” in Indonesia is an independent institution in carrying out its duties and authorities to prevent and eradicate money laundering crimes and is also responsible to the President of the Republic of Indonesia. On the other hand, FinCEN (Financial Crime Enforcement Network) is a work unit under the Treasurer (Minister of Finance). In relation to Money Laundering, Criminal Offences derived from narcotics crimes, prior to international talks on money laundering, the United States of America (USA) enacted various legislations to combat money laundering, especially those funds originating from narcotics and drugs. Therefore, it is important to review the regulations in the eradication of money laundering in the USA and Indonesia in order to determine whether the existing regulations are sufficient to eradicate money laundering crimes originating from narcotics crimes.

Copyright

© 2022 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Juna Karo Karo
AU  - Bismar Nasution
AU  - Sunarmi
AU  - Mahmud Mulyadi
PY  - 2022
DA  - 2022/02/15
TI  - Comparison of Regulations in the Eradication of Money Laundering Criminal Offence Originating From Narcotics Between the Countries of Indonesia and the United States of America
BT  - Proceedings of the Second International Conference on Public Policy, Social Computing and Development (ICOPOSDEV 2021)
PB  - Atlantis Press
SP  - 71
EP  - 77
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.220204.012
DO  - 10.2991/assehr.k.220204.012
ID  - Karo2022
ER  -