International Journal of Humanities and Social Science

ISSN 2220-8488 (Print), 2221-0989 (Online) 10.30845/ijhss

Optimizing Asset Recovery through Deregulating Anti-Money Laundry Regime
Roberts Kennedy

This work is aimed at exploring and finding some strategic approaches in recovering asset stemmed from criminal acts. These approaches will be focused on normative approach and institutional approach, which based on the anti-money laundry regime. This regime is assumed as the most effective method in recovering all assets from crimes. This is because it introduces to follow the money principle, which emphasises the importance to secure asset or treasury. In this point, it ignores the motivation, the reason, the way (modus operandi) of the crime, but it more emphasises the security of assets in order to avoid a further damage of the assets. The core idea of this work will be started from the importance of understanding and implementing the money laundry regime, which covers the visualization of its regulation ary architecture and the mechanism of the process of asset recovery. It is related in the light of the high complexity of the recent crime, which involves various parties, either individual or institutions, legal entity, such as corporation, or philanthropic institutions with various modus of crime, such as illegal logging, fishing, mining, drug, terrorism, corruption, gambling and so forth by crossing state's boundaries. As a tool, this money laundry is more relevant and effective as it employs the burden proof principle, and then it has a broader scope in exploring, finding and recovering the assets. At the normative level, this work will strengthen and refine the existing regulation or norms related to unclear and inequitable elaboration and explanation on the Recovery Asset (Law No. 8/2010, Art. 67). Whereas, at the institutional level, this work will elaborate and formulate the potential establishment of special institution that exploring, storing, conserving, protecting, securing, appraising and managing the optimization of the assets for public welfare.

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