Quo Vadis legal profession participation in anti-money laundering
Abstract
Purpose
This paper aims to explore the obstacles that the ethical guidelines of legal professionals pose in the implementation of an effective anti-money laundering regime, established in the law on anti-money laundering in Indonesia. Some compliance schemes have been developed to integrate the participation of gatekeepers in anti-money laundering efforts, but the solution to mitigate the challenges must be implemented through the participation of the legal profession.
Design/methodology/approach
The study uses a qualitative research methodology, including a triangulation of interviews with relevant experts, literature review and analysis of regulations. A deductive approach is employed to analyse the data.
Findings
The legal profession’s ethical regulations and laws were considered to be the cause for the Indonesian Government’s inability to implement the anti-money laundering regime. The findings show two practical solutions that could be implemented: A government policy for the amendment of the anti-money laundering law and organizational policy to increase support for the anti-money laundering regime; and active participation of legal professionals in an effective anti-money laundering regime in Indonesia.
Originality/value
This study provides insight into the participation of the legal profession in anti-money laundering efforts.
Keywords
Acknowledgements
This research was supported by the Ministry of Research, Technology, and Higher Education, the Republic of Indonesia [Grant Number: 016/ST-Lit/LPPM-01/Dikti/FH/III/2018].
Citation
Go, L. and Benarkah, N. (2019), "
Publisher
:Emerald Publishing Limited
Copyright © 2019, Emerald Publishing Limited