BENEFICIAL OWNERSHIP TRANSPARENCY IN LAW ENFORCEMENT OF MONEY LAUNDERING ACT INVOLVING CORPORATIONS

Abstract

Corporations have an important role in economic growth and national development. In corporate practice, there are times when committing criminal acts of money laundering that have a detrimental impact on the state and society. The corporation has the potential to become a means to commit criminal acts of money laundering with the aim of benefiting (beneficial owner). Thedistribution of beneficial owner information is an effort to realize corporate sustainability. Consistency of beneficial ownership transparency is needed to ensure law enforcement of money laundering crimes involving corporations. The purpose of this study is to find the role of beneficial owners in the misuse of corporations as a medium for money laundering crimes in Indonesia. This research method uses a normative juridical approach that focuses on data collection techniques in the form of secondary data which is also supported by interviews. The research specifications are descriptive analytical, with literature studies and field studies being the research stage, then the data is analyzed qualitatively. The results of the analysis show that the position of beneficial owners in the corporation can in practice control the corporation to carry out money laundering actions, which then the proceeds from the money laundering are enjoyed by the beneficial owner. Transparency of beneficial owner information is part of the framework of the principles of prevention and eradication of money laundering. Transparency of beneficial owner information can ensure the implementation of practices and concept development that is used as a means of orientation in the prevention and eradication of money laundering crimes involving corporations.