Recovery of Assets from the Proceeds of Corruption Through the Follow-the-Money Approach: Implementation of Law Number 8 of 2010
DOI:
https://doi.org/10.63208/21015-549Keywords:
Asset Forfeiture, Asset Recovery, Corruption, Follow the Money, Money LaunderingAbstract
This study aims to analyze the implementation of Law Number 8 of 2010 concerning the Prevention and Eradication of the Crime of Money Laundering in supporting the recovery of assets derived from corruption. The research employs a normative-juridical method, utilizing both statutory and conceptual approaches. The analysis focuses on provisions regarding asset tracing, freezing, seizure, forfeiture, and restitution, as well as the various obstacles encountered during their implementation. The findings indicate that Law Number 8 of 2010 provides a legal basis for applying the “follow the money” approach to trace and secure the proceeds of crime. Utilizing money laundering instruments enables law enforcement to target not only offenders but also the economic benefits derived from crime. However, asset recovery remains suboptimal due to asset concealment, commingling with legitimate property, forfeiture limitations, inter-agency coordination issues, and challenges involving assets located abroad, creating a gap between legal frameworks and implementation. Consequently, there is a need to strengthen regulations, institutional coordination, and capacities for asset tracing and management, as well as to enhance international cooperation. Such measures are essential to ensure that the money laundering regime yields more effective asset recovery outcomes while upholding legal certainty and protecting the rights of parties acting in good faith.
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Republic of Indonesia. (2010). Law Number 8 of 2010 concerning the Prevention and Eradication of the Crime of Money Laundering. Government of the Republic of Indonesia.
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