Research Article
Virtual Currency (Bitcoin) as a Means of Money Laundering
@INPROCEEDINGS{10.4108/eai.6-5-2023.2333502, author={Ahmad Sahroni and Ahmad Redi}, title={Virtual Currency (Bitcoin) as a Means of Money Laundering}, proceedings={Proceedings of the 3rd International Conference on Law, Social Science, Economics, and Education, ICLSSEE 2023, 6 May 2023, Salatiga, Central Java, Indonesia}, publisher={EAI}, proceedings_a={ICLSSEE}, year={2023}, month={7}, keywords={virtual money bitcoin money laundering crime}, doi={10.4108/eai.6-5-2023.2333502} }- Ahmad Sahroni
Ahmad Redi
Year: 2023
Virtual Currency (Bitcoin) as a Means of Money Laundering
ICLSSEE
EAI
DOI: 10.4108/eai.6-5-2023.2333502
Abstract
Virtual money or cryptocurrency has become a hot topic in electronic media discussions lately. Cryptocurrency is a form of intangible commerce that only exists in digital form and can be used in electronic transactions. This study aims to demonstrate that the Act Number 8 of 2010 concerning the Prevention and Eradication of Money Laundering has several weaknesses that can result in criminals disguising illegal funds in Bitcoin. This raises the issue of how to regulate the use of virtual currency Bitcoin to prevent money laundering crimes. To address this question, the research analysis utilizes a normative juridical research approach. The results of the study show a new modus operandi that prioritizes the security, speed, and privacy of Bitcoin's advantages is chosen by criminals to disguise their tracks in the online world. A criminological study analyzes from various factors. Internal factors within a person, external factors that crime is not an inherited factor, but can be learned by people in the surrounding environment, and the advancement of technology and information factors that make it easy for criminals to operate their crimes and escape without being traced.