TRADELINE (TRADING ONLINE): MONEY LAUNDERING IN

ONLINE TRADING, REGULATION AND LEGAL

PRESPECTIVE IN INDONESIA
Siti Rabiah Magfiroh
Institut Agama Islam Tazkia
rabiahmagfiroh30@gmail.com

ABSTRACT
Era Sociesty 5.0 is an industrial revolution that humans can access all
information in the real world with the help of technology. The convenience obtained
due to technological developments creates a new culture in society. One of them is
the habit of people using the internet to access information. Besides the ease of use
of technology ,there are still actions that deviate such as investing in online trading
with capital originating from criminal acts. Money laundering is the process by
which one conceals the existence, illegal source or illegal application of income,
and the disguises that income to make it appear legitimate. The government of
Indonesia criminalized this action by issuing Law Number 08 of 2010 on Criminal
offence of money laundering. The crime of money laundering has been giving a
negative effect on the economic sustainability.
Keywords : Money Laundering, Online Trading, criminal

INTRODUCTION

Era Sociesty 5.0 is an industrial revolution that started in the sakura country,
namely Japan. Society 5.0 has a concept with a focus on the use of technology for
the benefit of human life. In contrast to Society 4.0, where humans can access all
information in the real world with the help of technology. So that the Society 5.0
era is a solution to the problem of social inequality which is the result of the
industrial revolution 4.0 where technology replaces human work. On the concept
of Society 5.0 which utilizes technology to meet human needs. Examples include
online drivers, online shopping, online selling, online investment, and so on. Thus
the era of Society 5.0 is considered to have become an improvement that follows
the times, where humans still have a role as workers who utilize technology.

The convenience obtained due to technological developments creates a new

culture in society. One of them is the habit of people using the internet to access
information, fulfill their economic, educational, and health needs. One of the
activities using technology that is often carried out by the community is economic
activity. With this condition, of course, internet consumption and the use of
technology are getting more intense. Then lately there have been a lot of online
investment activities carried out by the community. This is because online
investment is considered practical and does not need to do heavy activities to earn
income.

Besides the ease of use of technology. There are also challenges that must
be faced by the community. There are still actions that deviate from the values and
norms in the use of technology itself. There is also a lot of fraud, smuggling of
information, and activities detrimental to the state. One of the actions that became
the highlight of the discussion was investing in online trading with capital
originating from criminal acts.

The problem above can be regarded as the Crime of Money Laundering.

The definition of money laundering itself is regulated in Article 1 number 1 of Law
Number 8 of 2010 concerning the Prevention and Eradication of the Crime of
Money Laundering which reads as follows “Money laundering is any act that
fulfills the elements of a criminal act in accordance with the provisions of this
Law.1“The types of criminal acts are regulated in Article 2 which contains 26 types
of criminal acts, for example narcotics, corruption, terrorism, trafficking in persons,
theft, fraud, and so on. For example, a member of the National Police with the
initials FS stumbled upon a murder case and an online gambling site. His many
assets should be suspected that these assets are the result of criminal acts. Crimes
that can be suspected can be in the form of corruption for bribery, or crimes against
online gambling sites, terrorism and many more. So this case reminds the public of
the importance of clear and fair legal reconstruction.2

PROBLEM

The purpose of this discussion is to 1) Analyze the concept of money

laundering by means of online trading? 2) What are the factors that affect money
laundering? 3) What is the impact of money laundering online trading? 4) What
legal measures can be taken to follow up on money laundering practices in
Indonesia? Therefore, this discussion will provide answers to all questions and be
a solution to various challenges regarding money laundering offenses.

METHODOLOGY

The approach method used in this research are:

1
Pasal 1 angka 1 Undang-Undang Nomor 8 Tahun 2020 tentang PENCEGAHAN DAN
Pemberantasan Tindak Pidana Pencucian Uang
2
Sutan Remy Sjahdeini. 2007. Seluk Beluk Tindak Pidana Pencucian Uang Dan Pembiayaan
Terorisme. Jakarta: PT Pustaka Utama Gravit
 a.Statute-approach. Research is conducted on legal products to be studied.
Regarding money laundering crimes against regulations related to money
laundering crimes

b. Analytical Approach. Analyzing legal materials to find out the meanings

contained in the terms used in the laws and regulations conceptually, as well
as knowing their application in practice and in legal decisions relating to the
problem of criminal acts of money laundering in online trading
(investment).

The data obtained were analyzed using qualitative methods by describing and
providing interpretations of the data obtained based on legal norms, theories and
applicable doctrines related to the subject matter. (Soerjono Soekanto, 1988: 12)
Legal materials obtained in this research study literature, laws and regulations,
especially those that regulate criminal law enforcement against money laundering
practices in online trading (investment) and other supporting legal materials, the
authors describe and link in such a way, so that they are presented in a more
systematic writing in order to answer the problems that have been formulated.

That the way of processing legal materials is carried out deductively, namely
drawing conclusions from a problem that is general in nature to the concrete
problems faced, especially crimes related to cyberspace as a form of development
of the times.

THEORICAL STUDY

A. Criminal Law

According to Sudarsono, in principle, criminal law is that which regulates

crimes and violations of the public interest and such acts are threatened with
punishment which constitutes suffering. 3

In general terms, criminal law is a norm or rule of law in which there is a

criminal sanction.4 There are norms or laws that are prohibited, that is, each
person is not allowed to do a certain act that can cause problems/chaos, if
someone does, the person can be subject to criminal sanctions according to the
type of violation. The sanctions specified are expected to provide a deterrent to
the perpetrators themselves and others so as not to commit or violate existing
regulations.

3
http://catatanamatir.blogspot.co.id/p/hukum-pidana.html, diakses tangal 1 November 2022

4
http://catatanamatir.blogspot.co.id/p/hukum-pidana.html
 B. Money Laudering
Money laundering means money laundering or the bleaching of
crime proceeds. In general, the term money laundering does not have a
universal definition because both developed and developing countries each
have their own definitions based on different perspectives and
priorities. However, Indonesian legal experts the term money laundering is
agreed upon with the term money laundering. Money laundering is a process
or act that aims to hide or disguise the origin of money or assets obtained
from the proceeds of criminal acts which are then converted into assets as if
derived from legitimate activities.

The problem of money laundering has just been declared a crime by

Law Number 15 of 2002 concerning the Crime of Money Laundering which
was legalized and promulgated on April 17, 2002. As a new law, of course,
it contains new problems for our country, Indonesia.

C. Online Trading
Online Trading is a trading system of buying and selling online via
the internet, thus making it easier for business activities to be more efficient
and effective (Wulandari et al., 2017). In contrast to conventional forex,
trades are carried out physically, which requires the presence of investors at
the trading site. The implementation of buying and selling is done
physically, in the dealing room. Online trading is a type of millennial
generation of forex trading that is trending, following the times. Currently,
online trading is very popular with both investors and traders. This is
because it is easier to make transactions online than conventional and low
investment costs.

Online trading makes it easier for investors, especially the millennial

generation who are still new to the capital market and investment, to get all
information in real time anytime and anywhere, as long as internet facilities
are available. For the millennial generation, online trading is one of the right
choices to start investing, because today's millennial generation does
everything with technology that can easily access all information. The
proximity of 13 millennial generations to technology can make it easier for
them as users of the online trading system.

DISCUSSION

A. Money Laundering Concept by Trading Online as an Investment

Online trading is an activity of buying and selling in the capital market

online in a short time to get the maximum profit. Trading is divided into 2 types,
namely currency trading or known as forex and stock trading.5 Online trading has
started to get busy since the development of technology in the era of the industrial
revolution 4.0 and 5.0 is in great demand by the public. That's because online
trading is considered easy and practical in making money or assets. So that not a
few criminals do online trading to manage the money from their crimes. Then the
results of the trade itself are vague and are considered legitimate.

Perpetrators who commit crimes, then these crimes include those mentioned
in Article 2 of Law Number 8 of 2010 and carry out money laundering by online
trading. So it can be said that the perpetrator has committed money laundering, then
the money from online trading can be confiscated by taking applicable legal
remedies.

Money laundering is divided into several types as follows. 6

1) Placement, an activity to save or place money resulting from a crime into

the financial or non-financial system.

2) Layering, the activity of layering money by transferring money resulting

from a crime that is deposited in a bank, then transferred to another bank.
Valid for domestic and foreign banks.

3) Integration, activities to unite the proceeds of a crime with legally

acquired assets.

Thus, money laundering carried out by means of online trading can be

regarded as an act of integration of money laundering. This is because in online
trading there has been a material expenditure and to be used as if the results from
trading are legitimate.

B. Factors Driving Money Laundering

There are several factors that can encourage money laundering resulting
from criminal acts. So many criminals have their assets confiscated under the
Money Laundering Law. The following are the driving factors for money
laundering or money laundering.7
1) Exclusivity at overseas banks is tighter. So it can be said that it is safe to
store assets, such as a Swiss bank.

5
Nur Lella Junaedi. 2022. Trading: Pengertian, Cara Kerja, Jenis, Resiko dan Panduan Trading yang
Baik. Ekrut https://www.ekrut.com/media/trading-adalah dilihat tanggal 27 Agustus 2022
6
Iwan Kurniawan. 2015. Perkembangan Tindak Pidana Pencucian Uang (Money Laundering) dan
Dampaknya Terhadap Sektor Ekonomi dan Bisnis. Jurnal Ilmu Hukum. Vol. 3 (1). Halaman 73 – 90
7
Neni Sri. 2005. Pencucian Uang (Money Laundering )Dalam Perspektif Hukum Perbankan Dan
Hukum Islam. Jurnal Hukum Islam UNISBA. Vol 21 (1).
 2) Eradication of money laundering abroad is not strict or lack of awareness
from certain countries outside Indonesia
3) The emergence of digital money which is considered a new asset that can
still be exchanged for printed money.
4) Lack of firm legal certainty in eradicating the crime of money laundering
in various countries.
5) Encouragement to maintain assets resulting from criminal acts.
The description above can illustrate that the lack of strict regulations
regarding money laundering has become a safe space for perpetrators to save assets
resulting from crime.

C. The Impact of Money Laundering on the Social Order in Indonesia

Money laundering can be said to be detrimental to various sectors.
Indirectly, money laundering actions can harm state finances, where tax revenues
or fines to the state are reduced. Not only that, money laundering can cause harm
to the wider community. The following is the impact of money laundering actions.
1. Resulting in economic instability.
2. Decreased government eradication in eradicating the proceeds of crime.
3. Reducing the positive image of the economic sector that works together
to carry out money laundering actions.
4. Damaging the integrity of the financial system.
5. Distorting the legal system Thus the impact of money laundering is not
a common thing. However, it has an impact on the wider social order,
both from an economic and legal perspective.

D. Legal Effort to Follow Up on Money Laundering Practices in

Indonesia
Money laundering actions in Indonesia are regulated by Law Number 8 of
2010 concerning the Prevention and Eradication of the Crime of Money
Laundering. The criminal provisions on money laundering offenses carried out by
means of online trading are regulated in Article 3 which reads:

"Everyone who places, transfers, spends, pays, grants, entrusts, takes abroad,
changes form, exchanges currency or letters valuable or other actions on Assets
which he knows or reasonably suspect is the result of a criminal act as referred to
in Article 2 paragraph (1) with the aim of hiding or disguising the origin of the
Assets shall be punished for the crime of Money Laundering with a maximum
imprisonment of 20 (twenty) year and a maximum fine of Rp. 10,000,000.00 (ten
billion rupiah).”8

8
Pasal 3 Undang-Undang Nomor 8 Tahun 2020 tentang Pencegahan Dan Pemberantasan Tindak
Pidana Pencucian Uang
 Law enforcers who can follow up on money laundering crimes are PPATK,
the Prosecutor's Office, and the Court. The crime of money laundering is an offense
that does not stand alone. One of the conditions is that this action must be followed
by the main crime as stated in Article 2 of Law No. 8 of 2010. So that the provisions
for investigation, prosecution and trial for this money laundering crime already
have legal certainty that needs to be implemented properly. 9
CONSLUSION
From the description of the discussion above, there are several conclusions
as follows.
1. Money laundering in online trading is a criminal act with the aim of
saving assets resulting from criminal acts. Then the results are used as online
investment capital by trading.
2. There are various factors from the existence of online trading-based
money laundering. Technological advances, the drive to save assets, and the
ease of online investing.
3. Money laundering has a negative impact on economic sustainability. An
unstable economy due to reduced state revenues.
4. The crime of money laundering is regulated in Law Number 8 of 2010
concerning the Prevention and Eradication of the Crime of Money
Laundering.

SUGGESTIONS
To prevent money laundering, it is necessary to take preventive actions from
law enforcement or the government. These actions can be in the form of top-down
and bottom-up socialization, where it is carried out from the government to the
community and from the community to the government as a form of criticism. Clear
legal certainty is very necessary to eradicate money laundering by considering the
impact that will occur. In addition, banks in Indonesia need to apply the principle
of reasonableness to every fund transacted by customers. Therefore, banks will be
stricter and more detailed, so as to prevent the occurrence of money laundering
crimes in banking, including investments facilitated by banks.

REFERENCES
Halif. 2017. Pembuktian Tindak Pidana Pencucian Uang Tanpa Dakwaan
Tindak Pidana Asal. Jurnal Yudisial. Vol. 10 (2). Halaman 173-192
Iwan Kurniawan. 2015. Perkembangan Tindak Pidana Pencucian Uang
(Money Laundering) dan Dampaknya Terhadap Sektor Ekonomi dan Bisnis. Jurnal
Ilmu Hukum. Vol. 3 (1). Halaman 73 – 90

9
Halif. 2017. Pembuktian Tindak Pidana Pencucian Uang Tanpa Dakwaan Tindak Pidana Asal.
Jurnal Yudisial. Vol. 10 (2). Halaman 173-192
 Neni Sri. 2005. Pencucian Uang (Money Laundering )Dalam Perspektif
Hukum Perbankan Dan Hukum Islam. Jurnal Hukum Islam UNISBA. Vol 21 (1).
Halaman 93-114
Sutan Remy Sjahdeini. 2007. Seluk Beluk Tindak Pidana Pencucian Uang
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Billy Steel. 2021 Money Laundering: A Brief History, Billy’s Money
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http://www.laundryman.u-net.com/page1_hist.html
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Panduan Trading yang Baik. Ekrut. dilihat tanggal 27 Agustus 2022
https://www.ekrut.com/media/trading-adalah

Yuliardi Sufri. 2020. Era Society 5.0, Apa Bedanya Dengan Industri 4.0?,
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https://wartaekonomi.co.id/read313729/era-society-50-apa-bedanya-dengan-
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Pemberantasan Tindak Pidana Pencucian Uang.