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Jakarta Post

Money laundering and human ingenuity

  • Hendi Yogi Prabowo
    Hendi Yogi Prabowo

    Director of the Center for Forensic Accounting Studies at the Islamic University of Indonesia

Yogyakarta   /   Fri, January 26, 2018   /  10:58 am
Money laundering and human ingenuity Money laundering can be used as an entry to uncover various fraud and corruption cases as well as other serious crimes. (Shutterstock/File)

The alleged graft case of the former speaker of the House of Representatives, Setya Novanto, is now entering a new chapter. According to the Financial Transaction Reports and Analysis Centre (PPATK), he could also be charged with money laundering. The Corruption Eradication Commission (KPK) suspects that, through a series of complex transactions, he received around US$2.6 million from abroad. The antigraft body believes that, with the help of several people, he managed to secretly move the money from Mauritius to Indonesia without using proper bank transfers. According to the KPK, the scheme was complex in nature and also involved a number of foreign companies as well as at least two money changers. Even though money laundering receives less media coverage in Indonesia compared to other related offenses such as fraud and corruption, it is nonetheless an important issue to add...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.