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Jakarta Post

Recovering stolen assets

  • Editorial board

    Jakarta

Jakarta   /   Thu, July 16 2020   /  01:00 am

The government can now trace and hope to recover billions of dollars of stolen assets believed to be hidden in Switzerland, formerly notorious as a tax haven, by corrupt Indonesian people and tax evaders over the past decades. This asset recovery can be realized after the House of Representatives ratified on Tuesday the Indonesia-Swiss Treaty on Mutual Legal Assistance (MLA) in Criminal Matters. Implementing regulations should be enacted soon to make the law fully effective. The long-awaited agreement, which was initiated in 2010, will serve as the legal basis for the two countries to cooperate in detecting, freezing and confiscating assets gained through such crimes as corruption, drug trafficking and money laundering. The MLA will simplify and accelerate mutual legal assistance procedures, in particular by reducing formal requirements and setting out in detail the requirements...