Proceedings of the 3rd International Conference on Law, Social Science, Economics, and Education, ICLSSEE 2023, 6 May 2023, Salatiga, Central Java, Indonesia

Research Article

New Model Money Laundering Through Famous Artists

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  • @INPROCEEDINGS{10.4108/eai.6-5-2023.2333544,
        author={Hudi  Yusuf and Suparno  Suparno},
        title={New Model Money Laundering Through Famous Artists},
        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={money laundering; endorsements celebrities},
        doi={10.4108/eai.6-5-2023.2333544}
    }
    
  • Hudi Yusuf
    Suparno Suparno
    Year: 2023
    New Model Money Laundering Through Famous Artists
    ICLSSEE
    EAI
    DOI: 10.4108/eai.6-5-2023.2333544
Hudi Yusuf1,*, Suparno Suparno1
  • 1: Universitas Borobudur, Jakarta, Indonesia
*Contact email: hoedydJoesoef@gmail.com

Abstract

Money laundering is an illegal process that generates large sums of money through criminal activities such as drug trafficking, corruption, and terrorist financing. Make it look like it comes from a legitimate source. Earned money is considered dirty and undergoes the task of "washing" to make it look clean. There are many methods of money laundering, from simple to complex. One of the most common techniques is to make transactions based on money in the possession of the abuser. For example, if you run a restaurant, a criminal could use your daily cash receipts to illegally distribute cash through your restaurant and deposit it into your restaurant's bank account. After that you can draw as you wish. But there is a new mode alive in mass media/social media and it is happening through recommendation systems. In the world of marketing, approval itself has a general meaning, promoting goods and services on social media. This promotion is usually done by celebrities (artists) who have many fans (of endorsement). This is a business strategy used by manufacturers to market products that are sold to consumers. Advertisements with endorsements may be paid or free, subject to agreements between brands and promoters. This advertising system can become one of the media from which criminals siphon dirty money in order to minimize the financial expenditure on product promotion.