10 TH ASOSAI RESEARCH ON FRAUD & MONEY LAUNDERING PART II. THE AUDIT BOARD OF INDONESIA. THE RESEARCH. Respondents
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10TH ASOSAI RESEARCH ON FRAUD & MONEY LAUNDERINGPART II
THE AUDIT BOARD OF INDONESIA
157 persons from 16 agencies : 8 government agencies, National Police Department, Attorney General Office, Commission for Corruption Eradication, Financial Intelligent Unit, 1 state-owned bank, 3 state owned companies
3 weeks (March to April 2013) : distribution, collection, process
The monies gained from corruption were mostly used to purchase assets.
c. Weak accounting practices, including lack of timely financial management;
d. Corruption during budget formulation is primarily grand or political corruption and is influenced by the distribution of budgetary powers between the executive and the legislature.
Corruption was considered to give serious impact to government’s budget as well as society.
c. The wealth obtained from corruption is the main source for money laundering, with approximate amount of more than USD 50M.
d.The most common method used for money laundering is by using real estate, business and cash transactions.
The main factors causing money laundering in Indonesia areInsufficientsupervision/control system and the insufficient legal system for anti money laundering.