RI urged to sign pact on money laundering<\/p>\n
SEMARANG (JP): Noted legal expert Muladi said yesterday
\nthat Indonesia should quickly ratify the 1988 international
\nconvention on money laundering and enact legislation accordingly.<\/p>\n
Muladi, the rector of the Diponegoro University, said in a law
\nseminar that failure to ratify the convention could lead to
\nIndonesia becoming isolated in the international banking
\ncommunity.<\/p>\n
Indonesia, he said, is already an easy target for the
\ninternational money laundering syndicates because of the virtual
\nabsence of any laws that bar such practices.<\/p>\n
The two-week seminar brings together more than 100 legal
\nexperts from various law schools in Indonesia to review the
\ncountry's present criminal laws.<\/p>\n
Muladi warned that money laundering transcends national
\nborder. \"Indonesia must follow other countries in making money
\nlaundering a crime,\" he said.<\/p>\n
Legal experts have earlier said the Indonesian banking law
\nwhich guarantees banking secrecy, including the origins of any
\nfund deposited with local banks, made the country an ideal
\ntransit point for people laundering their ill-gotten gains.<\/p>\n
Most experts and officials believe that money laundering is
\nalready widely practiced in the country although none have been
\nable to support this with any evidence yet.<\/p>\n
Muladi urged the legal experts yesterday to keep track of the
\nrapid changes in the world of crime, including money laundering,
\nso that they can provide timely and effective solutions to
\nproblems that affect into Indonesia.<\/p>\n
Romli Atmasasmita, a criminal law expert with the Padjadjaran
\nUniversity in Bandung, told the seminar that Indonesia's criminal
\nlaws should not only deal with current problems but they should
\nbe capable of anticipating and dealing with new problems in the
\nfuture.<\/p>\n
He said the trend in the crime world now is to expand beyond
\nnational borders. (har\/emb)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-urged-to-sign-pact-on-money-laundering-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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