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All Journal Jurnal Akuntansi & Auditing Indonesia Journal of Accounting and Investment The International Journal of Financial Systems International Journal of Law Analytic
Fajri, Kharisma Fatmalina
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Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

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Fraud threats: How organization improves the anti-fraud team quality? Fajri, Kharisma Fatmalina; Hendi Yogi Prabowo
Jurnal Akuntansi dan Auditing Indonesia Vol 28, No 1 (2024)
Publisher : Accounting Department, Faculty of Business and Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jaai.vol28.iss1.art10

Abstract

This study aims to discover how the Indonesian Local Government Rural Bank improves the quality of the anti-fraud team to prevent and detect fraud based on a mechanism of the anti-fraud strategy issued by Bank Indonesia. A qualitative analysis approach was applied 12 semi-structured interviews with the anti-fraud team and related officers. The content analysis approach supported by NVivo software and has discovered several required competencies and competencies already developed by the organization’s anti-fraud team for fraud prevention and detection. This study provides a detailed discussion of how these competencies are used in the anti-fraud mechanism by identifying the gaps between the required competencies and developed competencies to give recommendations for the organization to enhance the quality of the anti-fraud team in conducting fraud prevention and detection.
Crypto laundering prevention in Indonesia: The role of regulatory technology and financial intelligence unit Fajri, Kharisma Fatmalina; Urumsah, Dekar
Journal of Accounting and Investment Vol. 25 No. 3: September 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i3.22170

Abstract

Research aims: In Indonesia, crypto laundering has become an emerging threat through digital payments since 2015. This study aims to elaborate the crypto laundering prevention through the utilization of regulatory technology (RegTech) and the role of the Financial Intelligence Unit (FIU). Design/Methodology/Approach: The study was conducted using a qualitative content analysis approach with the support of NVivo 12. Data was sourced from secondary data in the form of law documents that have been established and published by the Commodity Futures Trading Regulatory Agency (CFTR). Research findings: Crypto laundering prevention is implemented through Know Your Customer (KYC) and transaction monitoring based on a risk-based approach. Normatively, KYC and transaction monitoring should be implemented on RegTech-based face recognition for KYC and blockchain analytic tools for transaction monitoring. Furthermore, the findings revealed that the FIU in Indonesia is the Indonesian Transaction Report and Analysis Center (INTRAC) which has the authority to receive and conduct further analysis of transaction monitoring results. INTRAC conducts advanced analysis with a ‘follow the money’ approach. The existence of INTRAC’s role depends on the tools, technology, and human resources that represent it.Theoretical contribution/Originality: This study contributes to knowledge in the field of forensic accounting. The findings and discussions in this study provide valuable insights into the current contemporary accounting issues and their relationship with other disciplines.Practitioner/Implication: This study provides insights for regulators to collaborate with various experts from information technology and environmental fields regarding developing regulations and policies to prevent crypto laundering. Research limitation: The data used was only sourced from secondary data (regulatory documents), so the role of RegTech and FIU was only studied normatively.
RegTech on Crypto FinTech: What Needs to be Done and Its Implications for the Anti-Money Laundering Mechanism Fajri, Kharisma Fatmalina; Faachrezzi, Bima Rafly; Kurniawan, Bagja
The International Journal of Financial Systems Vol. 2 No. 2 (2024)
Publisher : Otoritas Jasa Keuangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61459/ijfs.v2i2.75

Abstract

Crypto laundering has become a significant threat in Indonesia since 2015, particularly through digital payment systems. Despite efforts to combat this threat using Regulatory Technology (RegTech), the outcomes have been largely ineffective. This study expands on previous research exploring the causes of RegTech's ineffectiveness and seeks to provide policy recommendations based on RegTech provider perspectives, for Indonesian regulators to enhance crypto laundering mitigation through RegTech. The research employed an exploratory-inductive methodology, utilising primary data from semi-structured interviews with AML operating system specialists. The data were transcribed and thematically analysed using NVivo software. The findings reveal six key themes for improving RegTech effectiveness: (1) AML mechanisms tailored to various sizes of Crypto FinTechs; (2) Access to PEP data by RegTech providers; (3) Clear classification of RegTech; (4) Strengthened collaboration between regulators and RegTech providers; (5) Regulator-led education initiatives for Crypto FinTechs; and (6) The establishment and enforcement of sanctions. These insights hold significant implications for regulatory policies aimed at preventing crypto laundering through RegTech and contribute to the application of Rational Choice and Butterfly Effect theories in understanding crypto laundering as a criminal phenomenon.
Analysis of Civil Evidence Principles in The Ownership of Non-Fungible Token Assets Maulana, Muhammad Asrul; Muharram, Fajar; Fajri, Kharisma Fatmalina
International Journal of Law Analytics Vol. 2 No. 3 (2024): August 2024
Publisher : MultiTech Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59890/ijla.v2i3.2442

Abstract

This research aims analysis of the civil evidentiary principle, ownership of Non-Fungible Token assets can be proven through documents showing transfers from the previous owner to the current owner, as well as other evidence supporting the validity of the transaction. However, because NFT technology is still new and not fully legally recognized, further analysis is still needed to determine the appropriate mode of proof in this context. This study uses a normative method with a statutory approach (statute approach), as well as an analytical approach (analytical approach). The results of this study are to determine the principle of audi et alteram partem, the principle of ius curia novit, the principle of nemo testis indoneus in propria causa, the principle of ne ultra petita, the principle of de gustibus, non est disputandum, the principle of nemo plus juris transferre potest quam ipse habet on non-asset ownership Fungible Tokens. The principle of audi et alteram partem, which ensures that all parties have the right to be heard, upholds fairness in NFT ownership disputes by guaranteeing that each side has an opportunity to present their case.
Co-Authors Dekar Urumsah Faachrezzi, Bima Rafly Fajar Muharram Kurniawan, Bagja Maulana, Muhammad Asrul Prabowo, Hendi Yogi