Law enforcers welcome new law on money laundering

Law enforcers were upbeat on Wednesday that the newly enacted law on money laundering would improve efforts to eradicate such crimes, despite lingering criticisms.

“We believe this law still has many loopholes because its deliberation processes was full of political compromise,” Financial Transactions and Report Analysis Center chairman Yunus Husein told a seminar at The Sultan hotel in Jakarta on Wednesday.

However, he said the law also included several significant changes, including allowing six law enforcement bodies — the National Police, the Attorney General's Office, the Corruption Eradication Commission (KPK), the Tax Office, the Customs and Excise Office and the National Narcotics Body — to investigate money laundering cases.

The junior attorney general for internal monitoring, Marwan Effendy, said the inclusion of more investigative bodies was a significant breakthrough in efforts to eradicate money laundering.

“Whistleblowers will have options as to where to report indications of crimes. If an investigative body doesn't follow up on these reports, they can report to other bodies,” he said, adding that a multi-investigator system would strengthen the checks-and-balances mechanism among investigators.

The House of Representatives passed the draft law on October 5, and it was then enacted by President Susilo Bambang Yudhoyono on October 22.