Synopsis of the proposed money laundering bill.

JAKARTA (JP): The government has presented the much-awaited money laundering bill to the House of Representatives for deliberation in a move to combat money laundering practices. The following is a synopsis of the bill, that consists of 10 chapters and 52 articles.

Background to the drafting of the bill on money laundering:

- An increasing number of crimes produce and involve a huge amount of funds, both inside the country and across its borders.

- The sources of funds collected from criminal activities are concealed or disguised through various means, known as money laundering.

- Money laundering must be prevented and eradicated so that the frequency of crimes that produce huge amounts of funds could be minimized so that national economic stability and security could be maintained.

- Indonesia, as part of the international community, strives to prevent and eradicate money laundering based on inter-governmental agreements.

Money laundering is the laundering of money generated from corruption, bribery, smuggling, banking-related crimes, narcotics- related crimes, psychotropic substances-related crimes, human trafficking, gambling and terrorism.

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