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All Journal International Journal of Business, Law, and Education
Aida Ardini
Faculty of Law, Universitas Prima Indonesia PUI-PT Criminal Law and Green Economy
Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Neuroscience Social Sciences Other

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Reconstructing Mutual Legal Assistance for Digital Financial Crime: : Addressing the Sovereignty Paradox and Web3 Disruption Aida Ardini; Usman Manor
International Journal of Business, Law, and Education Vol. 7 No. 2 (2026): International Journal of Business, Law, and Education (on progres)
Publisher : IJBLE Scientific Publications Community Inc.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56442/ijble.v7i2.1556

Abstract

The expansion of cross-border digital finance within the ASEAN Economic Community has increased both legitimate financial integration and exposure to digitally enabled financial crime involving blockchain, virtual assets, decentralized finance (DeFi), and Web3 infrastructures. These developments create a legal tension between borderless, rapidly moving digital activity and mutual legal assistance (MLA) mechanisms that remain primarily state-centred and territorially organized. This study assesses the normative adequacy of the 2004 ASEAN Treaty on Mutual Legal Assistance in Criminal Matters for Web3-related digital financial crime and develops a model for legal reconstruction. Using normative and prescriptive legal research, the study combines statutory, conceptual, comparative, and law-reform approaches with Critical Legal Studies, regulatory-lag analysis, and policy-oriented legal research. The analysis identifies three principal constraints: formalistic application of dual criminality, time-sensitive reliance on Central Authority procedures, and a territorial sovereignty paradigm that may be poorly aligned with distributed digital evidence and rapidly transferable virtual assets. The study proposes a framework of regional juridical reciprocity comprising secure electronic mutual legal assistance (e-MLA), a substantive approach to dual criminality, greater convergence on core digital-financial offences and investigative standards, and stronger inter-agency coordination with proportionate emergency asset-preservation mechanisms. The proposed model does not displace state sovereignty; rather, it seeks to make sovereignty operationally compatible with timely, rights-respecting, and interoperable cross-border enforcement in the Web3 era.
Legal Accountability for Climate-Related Financial Risk and Greenwashing: Reconstructing Sustainable Finance Law in Developing Countries through Indonesia's Regulatory Experience Aida Ardini; Usman Manor
International Journal of Business, Law, and Education Vol. 7 No. 2 (2026): International Journal of Business, Law, and Education (on progres)
Publisher : IJBLE Scientific Publications Community Inc.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56442/ijble.v7i2.1575

Abstract

Climate change has become a systemic financial risk, prompting the incorporation of sustainability considerations into financial regulation. However, the rapid expansion of ESG disclosure requirements and sustainable finance has not been matched by equally robust mechanisms of legal accountability, thereby increasing the risks of greenwashing and investor harm. This study analyzes global developments in climate-related financial regulation, evaluates Indonesia's sustainable finance legal framework, and develops a model of legal accountability for greenwashing. Employing normative legal research with comparative-transnational and regulatory governance approaches, the study examines international standards and Indonesia's regulatory framework, particularly policies issued by the Financial Services Authority (OJK) and the Indonesian Sustainable Finance Taxonomy (TKBI). The findings reveal a persistent gap between sustainability disclosure obligations and mechanisms for verification, supervision, and legal accountability. To address this gap, the study develops the Climate Financial Liability Framework, which integrates four interconnected pillars: materiality-based disclosure, independent sustainability assurance, risk-based supervision, and legal liability for greenwashing. The framework reorients sustainable finance governance from disclosure-based regulation toward accountability-based regulation. The study concludes that strengthening Indonesia's sustainable finance regime requires clearer ESG verification standards, more effective climate-risk-based supervision, proportionate liability mechanisms, and closer alignment with international sustainability standards. The proposed framework offers a regulatory model for strengthening market integrity and investor protection in Indonesia and other emerging economies.
Co-Authors Usman Manor Usman Manor