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All Journal KARSA: Jurnal Sosial dan Budaya Keislaman (Journal of Social and Islamic Culture) Jurnal Akta Jurnal Kewarganegaraan Lex Publica Heritage of Nusantara: International Journal of Religious Literature and Heritage Life and Death: Journal of Eschatology Journal of Law and Legal Reform Dharmakirti : International Journal of Religion, Mind and Science Jisiera: The Journal of Islamic Studies and International Relations Al-battar: Jurnal Pamungkas Hukum
Gautam Kumar Jha
Assistant Professor, Centre for Chinese and Southeast Asian Studies, School of Language, Literature and Culture Studies JNU, New Delhi-110067
Religion Arts Humanities Civil Engineering, Building, Construction & Architecture Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Strengthening the Gatekeeper Function of Banks: The Role of KYC in Anti-Money Laundering Legal Framework Simanjuntak, Efendi Lod; Jha, Gautam Kumar
Lex Publica Vol. 12 No. 2 (2025)
Publisher : APPTHI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58829/lp.12.2.2025.320

Abstract

This study critically examines the role of Know Your Customer (KYC) compliance within Indonesia’s anti-money laundering and counter-terrorism financing (AML/CFT) framework. Employing a normative juridical approach, the research analyzes key regulatory instruments, including Law Number 8 of 2010, POJK Number 12/POJK.01/2017, and the institutional role of PPATK, alongside relevant legal doctrines and international standards, particularly those of the Financial Action Task Force (FATF). The study addresses three core issues: the structuring of KYC obligations within Indonesia’s legal framework, the implementation of KYC principles by financial institutions as part of risk management strategies, and the challenges encountered in practice. The findings demonstrate that KYC functions as a central legal and operational instrument, enabling customer identification, transaction monitoring, and reporting of suspicious activities, thereby reinforcing the banking sector’s role as a gatekeeper in preventing financial crimes. However, its effectiveness is constrained by data quality issues, technological limitations, uneven institutional capacity, and increasingly sophisticated laundering techniques. The study concludes that strengthening regulatory enforcement, enhancing technological adoption (including RegTech and AI), and improving inter-agency coordination are essential to optimize KYC effectiveness.
Co-Authors Abd. Rasyid Syamsuri Agustinus Astono Al-Anshori, Huzaimah Arif Prasetyo Wibowo Badri, Taha Ibrahim Budiono Casnika, Casnika Edi Santoso Emi Puasa Handayani Gonda Yumitro Hadi Purnomo Harun Joko Prayitno Ibrohim Insani, Nursolihi Ismail, Alice Sabrina Jamaludin, Norliza Jero, Ni Wayan Jemiwi Kashiwa, Miki Kunarto Maria Dominika Niron Mifdal Zusron Alfaqi MUHAMMAD ALI Nurbani Yusuf Nurul Zuriah Paul, Sanghati Purwanto Rakhmah, Rafika Resmaya Agnesia Mutiara Sirait Rose Fitria Lutfiana Seriadi, Siluh Nyoman Simanjuntak, Efendi Lod Sumantri, Gumilar Surya Dharma Wika, I Made Wisnu Pratama, Muhammad Rafi Yenny AS