PERMIT OBLIGATIONS AND THREAT OF CRIMINAL SANCTION FOR NON-BANK OR UNLICENSED MONEY CHANGER BUSINESS ACTIVITIES BEFORE EFFECTIVENESS OF LAW ON FINANCIAL SECTOR DEVELOPMENT AND STRENGTHENING OF 2023
Main Article Content
The exchange of foreign currency to rupiah or vice versa in Indonesia can be carried out by the public in the commercial banks or non - banks business entities commonly called as money changer or non-bank foreign exchange traders. The business activities of the non-bank foreign exchange traders (KUPVA BB) in general thrive in the areas which economy, tourism activities are growing and the area that is the area being the origin of the Indonesian workers working abroad. The purpose of writing of this paper is to study the legal basis of regulation and supervision of KUPVA BB in Indonesia, the permit obligations from Bank Indonesia, as well sanctions for breach of non-permit KUPVA BB from Bank Indonesia. The research method used is the normative law study or doctrinal research. From the result of study, it is obtained the conclusion that the regulation, supervision and permit of KUPVA BB are carried out by Bank Indonesia by referring to the Law, Bank Indonesia, the Law on Foreign Exchange Traffic and Regulation of Bank Indonesia governing KUPVA BB. There is no criminal threat for the breach of obligation to obtain KUPVA BB permit from Bank Indonesia thereby make it difficult in eradication of illegal KUPVA BB currently.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Amiruddin. and Asikin, Zainal. 2019. Introduction Method Legal Research, Edition Revision. Depok: Rajawali Press, Higher Education Book Division, PT RajaGrafindo Persada.
Ayu, Tri Jata. “Foreign Exchange Business." https://www. Hukumonline.com/klinik/detail-/review/cl4714/-usaha-penukaran-valuta-asing/
Bank Indonesia, “Anti-Money Laundering and Prevention Funding Terrorism," https://www.bi.go.id/id/fungsi-utama/sistem-pempayan/anti-pendicucian-uang-dan-peprefen-pendanaan-terrorism/default.aspx
Bank Indonesia, “Appraisal Risk sectoral follow Criminal Money Laundering and Acts Criminal Funding Terrorists in the System Service Provider Sector Payment Apart from Banks and Non-Bank Foreign Currency Exchange Business Activities
Djojohadikusumo, Sumitro. 1957. Development Economics, Jakarta: PT. Development
Fiscal Policy Agency and the Australia Indonesia Partnership for Economic Governance (AIPEG). “Strengthening of Role Of Financial Sector To Promote Strong And Sustainable Growth.” https://fiskal.kemenkeu.go.id/files/berita-kajian/file/StrengtheningTheRole.pdf
Himawan, Charles. 2003. Law as Commander in Chief. Jakarta: Kompas Book Publishers.
https://www. Hukumonline.com/berita/baca/lt588f441f57441/penegak- Hukum-mulai-bidik-tindak-pidana-yang-untungkan-money-changer-illegal
Indonesia. Law on Bank Indonesia, Law No. 23 of 1999 as has been amended by the Law No. 2 of 2008 jo. UU No. 6 of 2009, LN No. No. 7 of 2009, TLN No. 490.
Indonesia, Bank Indonesia. Regulation of Bank Indonesia regarding Non-Bank Foreign Currency Exchange Business Activities. PBI No. 18/20/PBI/2016.
Lodge, George C. 1995. Managing Globalization in the Age of Interdependence. Warren Bennis Executive Briefing Series. Kuala Lumpur: Golden Book Center SDN. BHD
Manan, Abdul. 2018. The Role of Law in Economic Development. 3rd Printing. Jakarta: Prenada Media Group.
Posner, Richard. 1986. Economic Analysis of Law, Ninth Edition. Aspen Case Book Series. Wolters Kluwer Law & Business. Digitized by the Internet Archive in 2012, Copyright © 1986 by Richard Posner.
Priowirjanto, Enni Soerjati. 2021. Economic Law in Indonesia. Bandung: Keni Media.
Pujiyono, P., Waluyo, B., & Manthovani, R. (2020). Legal threats against the existence of famous brands a study on the dispute of the brand Pierre Cardin in Indonesia. International Journal of Law and Management.
Purnawati, I Gusti Ayu. and Yuniarta, Gede Adi. 2021. Indonesian Economy. Depok: Higher Education Division Press Rajawali, PT RajaGrafindi Persada .
Putra, Nanda Narendra. “Money Changers and Perpetrators of Payment Service System Must Identification of Beneficial Owners”. https://www. Hukumonline.com/berita/read/lt59b92499bc122/money-changer-dan-pelaku-sistem-jasa-pembayaran-wajib-identifikasi-beneficial-owner/
Reksodiputro, Marjono. 2020. System Justice Criminal, Java Kurnia Publishing, Depok: Rajagrafindo Persada.
Riyanta, S. (2020). Corporate Criminal Liability in the Collapse of Bank Century in Indonesia. Humanities and Social Sciences Letters, 8(1), 1-11.
Saleh, Ishmael. 1990. Law and Economics. Jakarta: PT Gramedia Pustaka Utama.
Simorangkir, Iskandar. 2015. Introduction nationality Theory and Practice in Indonesia. Jakarta: Higher Education Division PT. RajaGrafindo Persada.
Soekanto, Soerjono. 1986. Introduction Legal Research, UI Press, University of Indonesia Publisher, Jakarta,
Sulistiyono, Adi. and Rustamaji, Muhammad. 2009. Economic Law as Commander in Chief. Sidoarjo: Masmedia Libraries.
Samekto, FX. Adji "Traveling Root Hans Kelsen's thoughts about Stuffenbeautheorie In Normative Approach – Philosophical”, Journal of Progressive Law, Vol. 7, No. 1, April 2019
Simorangkir, Binsan R. "The Criminalizing of Illegal Foreign Currency Business Activity Or Money Changer Illegal in Indonesia." South East Asia Journal of Contemporary Business, Economics and Law. Vol. 13, Issue4(August), 2017.
Tri Bawono, Bambang and Mashdurohatun, Anis. Criminal Law Enforcement in the Field of Illegal Logging for Sustainability Environment Life and Effort Countermeasures, Journal of Law Vol XXVI, No. 2, August 2011, Pg. 599
Warjiyo, Perry and Juhro, Solikin M. 2016. Central Bank Policy Theory and Practice. Jakarta: Higher Education Division PT. RajaGrafindo Persada.
__________. 2020. Central Bank Policy Mix, Issues, Challenges, and Policy Responses. Handbook of Central Banking Studies. Jakarta: Bank Indonesia Institute.