Financial Crime World

Indonesian AGO Leads the Way in Effective Asset Recovery

Effective and Efficient Methods for Recovering Assets

Jakarta, Indonesia - The Attorney General’s Office (AGO) of Indonesia has taken the lead in implementing effective and efficient methods for recovering assets related to crimes. According to a recent report, the AGO has been granted authority by law to confiscate and forfeit crime-related assets, as well as manage and dispose of them.

Authority and Jurisdiction

The Deputy Attorney General for Advancement oversees the asset recovery working unit of the Indonesian AGO. This authority is delegated to ensure that the handling of assets is not limited to the investigation stage but also extends to prosecution, where prosecutors have jurisdiction to handle assets as evidence.

The Asset Recovery Centre: A Strategic Advantage

The AGO’s Asset Recovery Centre has been designed to ensure the recovery of ill-gotten assets from the beginning of investigations to execution and maximizing returns to the country. This centre is strategically located under one roof, minimizing red tape and egocentric attitudes among law enforcement agencies.

International Cooperation

The centre has also been active in both formal and informal international networks, such as CARIN (Camden Asset Recovery Interagency Network), to share efforts in tracing and recovering assets.

Key Objectives and Benefits

  • Cut or keep away criminals from access to their assets
  • Reduce financial crimes seeking wealth or assets
  • Recover proceeds of crime and return lost assets to the country
  • Hamper wealth- or asset-oriented crimes, especially corruption

Quote

“The objective of the Asset Recovery Centre is to cut or keep away criminals from access to their assets. This measure is expected to reduce financial crimes seeking wealth or assets.” - Indonesian AGO spokesperson

Conclusion

The Indonesian AGO’s efforts are expected to make a significant impact in reducing financial crimes and recovering lost assets for the country. By implementing effective and efficient methods, the AGO is setting an example for other agencies to follow.

Key Highlights:

  • The Attorney General’s Office has authority to confiscate and forfeit crime-related assets.
  • The Deputy Attorney General for Advancement oversees the asset recovery working unit of the Indonesian AGO.
  • Prosecutors have jurisdiction to handle assets as evidence during prosecution.
  • The AGO’s Asset Recovery Centre is designed to recover ill-gotten assets from investigations to execution.
  • The centre has been active in both formal and informal international networks, such as CARIN.