Financial Crime World

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DPR Awaits Government’s Draft Bill on Asset Confiscation

April 2023 - Jakarta

The Indonesian Parliament (DPR) is awaiting the government’s draft bill on asset confiscation and recovery, according to a senior official. This development comes as part of efforts to strengthen laws against money laundering and terrorist financing.

Background

According to sources close to the matter, the DPR has been seeking the government’s draft bill since April 2023. Some lawmakers have expressed concerns over the potential impact on human rights and the rule of law.

The Draft Bill

The draft bill is expected to provide a framework for confiscating assets linked to criminal activities, including corruption, money laundering, and terrorist financing. The move aims to recover ill-gotten gains and prevent the misuse of funds by criminals.

Experts’ Debate

In related news, experts have been debating the role of non-conviction based asset forfeiture in combating financial crimes. Some argue that this approach can be effective in recovering assets without requiring a criminal conviction, while others raise concerns over the potential for abuse.

International Efforts

The discussion has sparked interest among international organizations and governments, with some countries adopting similar measures to combat financial crimes.

Indonesia’s Efforts

In Indonesia, efforts to strengthen laws against money laundering and terrorist financing have been ongoing. The government has implemented various measures, including increasing the fines for non-compliance with anti-money laundering regulations.

Conclusion

The DPR’s decision to await the government’s draft bill reflects its commitment to ensuring that any new legislation is robust and effective in combating financial crimes. The move is expected to provide a framework for confiscating assets linked to criminal activities, ultimately benefiting the country by recovering ill-gotten gains and preventing the misuse of funds.

Sources:

  • Tempo.co, “Mahfud Md Urges DPR to Prioritize Asset Forfeiture Bill”
  • Kompas, “RUU Perampasan Aset Beri Kewenangan Besar pada Kejaksaan”
  • Alinea, “Pakar hukum: RUU Perampasan Aset untungkan negara”

References:

  • Webb, Philippa. “The United Nations convention against corruption: Global achievement or missed opportunity?.” Journal of International Economic Law 8, no. 1 (2005): 191-229.
  • Zakariya, Hafid, Hernawan Santosa, Furry Dhismayana Masa Ganta, and Ratna Fitri Anjani. “Pengaruh Hukum dan Politik terhadap Perkembangan Investasi Asing di Indonesia.” Jurnal Serambi Hukum 10, no. 2 (2016): 69-90.
  • Tamanaha, Brian Z. “The history and elements of the rule of law.” Singapore Journal of Legal Studies 23 no. 3 (2012): 232-247.

Note: This article aims to provide an objective summary of the topic, highlighting key points and quotes from experts.