Legal analysis of the prevention of money laundering

Abstract

The crime of money laundering has a serious impact on the national economy because it is closely related to the level of trus t in a country's policies, both domestically and internationally. The modus operandi of money laundering often invo lves mixing illegal funds with legitimate funds, creating an imbalance in business competition and harming honest businesses. In addition, money laundering also affects the integrity of the financial sector, increasing the liquidity risk for financial inst itutions that indirectly use the proceeds of crime as their source of funds. As a result, the government loses control over economic policy, which has the potential to reduce the trust of other countries in the economic policy implemented. In order to impr ove the effectiveness of supervision, the USU Branch of Bank BNI has implemented the provisions of Law No. 8 of 2010 concerning the Prevention and Eradication of Money Laundering and Bank Indonesia Regulation No. 11/28/PBI. These steps are implemented through the Know Your Customer principle and various other procedures in accordance with Circular Letter No. 11/31/DPNP of 2009 concerning Guidelines for the Standard Implementation of Anti-Money Laundering and Prevention of Terrorism Funding Programs in banking.