The recent initiative in the form of the asset recovery bill provides a significant opportunity for Indonesia to strengthen its asset recovery mechanisms and take a decisive step forward. It is imperative that the government and the House of Representatives expedite the deliberation and passage of the bill to address the pressing need for effective asset recovery and the fight against corruption in general.

One of the major obstacles to the progress of the bill which President Joko “Jokowi” Widodo submitted to the House on May 4 is the influence of political interests. The discussion and approval of the bill require support and cooperation from the politicians.

However, even though the President has urged the House to give the bill a top priority in the National Legislation Program, the current political year and upcoming elections have been deemed as the major impediments to the legislative agenda.

To ensure swift progress, it is crucial that the House demonstrates transparency and actively involves the public in the debate of the bill. Greater transparency will not only foster trust but also facilitate meaningful public participation, enabling citizens to hold their representatives accountable and contribute to the development of effective legislation.

The asset recovery bill addresses the complex challenge of recovering assets acquired through various crimes. While existing laws focus primarily on the proceeds of corruption, the new bill adopts a broader approach. It recognizes that asset recovery should not be limited to corruption cases alone, but also encompass a wider range of crimes that have a significant impact on the economy and financial stability.

Moreover, the asset recovery bill introduces the concept of non-conviction-based forfeiture, enabling asset recovery without a criminal case or court order. This provision is crucial in combating sophisticated criminal networks that exploit legal loopholes to shield their illicitly obtained assets. By removing this reliance on criminal convictions, the bill streamlines the asset recovery process, ensuring that criminals cannot evade through lengthy legal procedures.

Contrary to common misconceptions, the asset recovery bill does not solely focus on the proceeds of corruption. While corruption remains a significant concern, the bill recognizes the broader impact of crimes on the economy and financial stability.

By targeting offenses that carry a minimum penalty of four years of imprisonment and setting a threshold of at least Rp 100 million (US$6,600) for confiscated assets, the bill encompasses various criminal activities that harm the nation’s economic wellbeing.

It is essential to understand that according to the bill, asset recovery is not limited to graft cases alone but extends to a wider array of offenses that undermine Indonesia’s financial integrity.

To ensure the successful implementation of the asset recovery bill, several recommendations should be considered.

First, transparency in the legislative process is vital. The House must actively engage the public, creating opportunities for meaningful participation, and ensuring that the bill’s progress is closely monitored by the public. This transparency will not only enhance public trust but also contribute to the development of effective legislation that addresses the needs of the nation.

Second, enhancing the technical capacity of law enforcement agencies is crucial. Specialized training should be provided to judges handling corruption cases, as well as public prosecutors and investigators, equipping them with the necessary knowledge and expertise to effectively manage asset recovery processes.

By building expertise in this specific area, Indonesia can ensure that the human resources are well-prepared to combat economic crimes and recover stolen assets.

Lastly, Indonesia should draw lessons from best practices implemented in other countries. Learning from complex cases and successful strategies from around the world will provide valuable insights and guidance for effective enforcement of an asset recovery law.

Establishing stronger partnerships with international agencies and counterparts such as the Financial Action Task Force (FATF), the Organization for Economic Cooperation and Development (OECD) and the United Nations will enable Indonesia to benefit from their expertise and gain access to valuable resources.

The swift approval of the asset recovery bill is critical for Indonesia’s efforts to combat corruption and recover stolen assets. By addressing political interests, understanding the complexity of asset recovery and recognizing the bill’s broad scope, Indonesia can pave the way for a more transparent and accountable society.

Emphasizing transparency, following the money trails and implementing key recommendations will enable effective asset recovery and contribute to Indonesia’s long-term development goals. The time for action is now, and it is crucial for the government and the lawmakers to expedite the approval process to realize the full potential of the asset recovery bill.

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The writer is an Indonesian lawyer, with scopes of work including regulatory compliance, financial crimes and ESG matters.