Revealing the unexplained wealth in Indonesian corporation

Anastasia Suhartati Lukito

Journal of Financial Crime, 2020, vol. 27, issue 1, 29-42

Abstract: Purpose - The purpose of this paper is to analyze the unexplained wealth inside the corporation and to initiate and apply unexplained wealth order in the Indonesian corporation based on the Indonesian legal system and prevailing laws. An effective tool needs to be implemented because of the facts that numerous corporate illegal activities lead to economic and financial crime. Meanwhile, there are difficulties to implement the corporate criminal liability. Non-conviction-based asset forfeiture will be a way out to deal with the current condition. Design/methodology/approach - This paper explores and analyzes the Indonesian legal system, particularly a non-conviction-based asset forfeiture for corporate illegal activities. This paper is based on the research paper conducted with the legal normative approach. Findings - Non-conviction-based asset forfeiture through unexplained wealth order will be an effective tool and a revolutionary pattern in the crime prevention perspective dealing with corporate crime. Corporate criminal liability in anti-corruption regime can be viewed from two perspectives by combining and integrating crime prevention approach as well as the repressive approach. The Indonesian Supreme Court Regulation number 13 of 2016 is a breakthrough in the criminal justice system to redesign case handling procedure toward corporate crime. It needs to be supported by precise asset forfeiture law. Furthermore it is necessity to strengthening and built corporations with moral and ethical business values. Practical implications - This paper can be a source to explore the unexplained wealth that can occur in the corporation and the way to overcome it through unexplained wealth order and non-conviction-based asset forfeiture. Originality/value - This paper contributes by initiating a non-conviction-based asset forfeiture, which is implementing thein remproceeding, to make sure the crime does not pay and the victim and society suffer less because of the corporate crime.

Keywords: Unexplained wealth; Non-conviction-based asset forfeiture; Unexplained wealth order; Corporate crime (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-11-2018-0116

DOI: 10.1108/JFC-11-2018-0116

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