The Countermeasure Of Criminal Act Of Terrorism Financing Through Money Laundering
Abstract:The changes in the global economy have given a benefit to the criminals. They are taking advantage by increasing the flow of goods, money, and people across the world. This reality develops into various threats to national and global interests. One of them is related to terrorism financing and money laundering, which become immortal issues that are needed prevention by cutting the chain of terrorism financing loop through money laundering. In this regard, the FATF has issued the IX Special Recommendations related to funding for terrorism and has been incorporated in the FATF Forty Recommendations on money laundering as a basic framework to find, prevent and eradicate terrorism financing and terrorist acts in general.These particular recommendations have been implemented in the Law of the Republic of Indonesia Number 8 the Year 2010 Regarding Countermeasures and Eradication of Money Laundering. Furthermore, specifically regarding terrorism funding is regulated in Law Number 9 of 2013, which is the right step for Indonesia in participating in fighting terrorist groups and their financing.Therefore, bank and non-bank financial institutions must be aware of the possibility of these institutions being used as a place of money laundering to finance terrorist activities by applying the principles of Know your customer and the regulations of knowing the users.
Keywords: terrorism / financing / money laundering / Countermeasures / bank / FATF / knowing
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