The Development of the Crime of Money Laundering in the Era of the Industrial Revolution 4.0
Dr. Davit Rahmadan, S.H, M.H.

Faculty of Law University of Riau

Abstract

The development of money laundering crimes in the digital era and the potential for business crimes during the Covid-19 pandemic remind us of a health crisis that quickly turns into a financial crisis. There is a huge amount of money being put into the financial system which always has the potential for fraud and financial crimes and other types of illicit acts.

This research is included as a normative legal research research using a statute approach which examines the problems to be discussed using legal regulations in the form of secondary data (primary, secondary and tertiary legal materials). The analysis was carried out qualitatively and the discussion of the problem formulation using library research.

According to the September 2020 FATF report on virtual assets spurring innovation and financial efficiency but without following proper regulations. The FATF has been monitoring the development of the cryptosphere and in recent years has seen countries begin to regulate thesector virtual asset, while others have banned virtual assets. Gaps in the global regulatory system have created significant loopholes for money launderers and terrorists to abuse.

Money laundering is not only an internal problem in Indonesia, but also an international problem. In the development of Law No. 8 of 2010 has been faced with the development of crimes committed digitally and it should be adjusted to the standards made by the FATF.

Keywords: money laundering- industrial revolution 4.0 era- law

Topic: Law