Fostering and enhancing the role of private sector: A prevention way towards corruption eradication in Indonesia

Abstract

Purpose

The purpose of this paper is to examine the role of private sector in Indonesia to prevent and combat corruption practices. The eradication of corruption is not only the government’s problem which can be solved only by government regulations. The private sector should be involved in and be aware of these matters because of the huge interest of the business activities concerning national interest as well as their private interest to achieve highest profit.

Design/methodology/approach

This paper explores the Indonesian laws on corruption eradication and analyzes the important role of the private sector that needs to be built.

Findings

The role of private sector in the financial system can be viewed as a non-penal policy, which has a great impact as a prevention method to combat economic crimes such as corruption. A new perspective is needed to build, balance and integrate the role of the private sector. As a new perspective combating corruption, Indonesian Laws on Corruption Eradication is fostering the role of the private sector in promoting integrity and good corporate governance.

Practical implications

The paper can be a source to explore the eradication of corruption based on Indonesian perspectives.

Originality/value

This paper contributes by encouraging the private sector to prevent corruption and bribery practices, which, nowadays, are common in Indonesia.

Citation

Lukito, A.S. (2015), "Fostering and enhancing the role of private sector: A prevention way towards corruption eradication in Indonesia", Journal of Financial Crime, Vol. 22 No. 4, pp. 476-491. https://doi.org/10.1108/JFC-06-2014-0029