Islamic Legal Analysis Of The Illegal Circulation Of Foreign Currency As A Form Of Economic Crime

Foreign Currency, Illegal, Economic Crime

Abstract

The illegal circulation of foreign currency (foreign exchange/forex) is a serious form of economic crime that significantly impacts a country's financial stability and sovereignty. In Indonesia, this activity is strictly regulated by law and central bank regulations to prevent economic losses. Legal regulations regardingcirculation of foreign currency as a form of economic crimein Indonesia  regulated in a legal framework that establishesThe Rupiah is the sole legal tender within the territory of the Republic of Indonesia. The use and circulation of foreign currency in violation of statutory provisions, especially if conducted without permission or through illegal channels, can be categorized as an economic crime. Criminal sanctions for perpetrators of this crimeillegal circulation of foreign currency as a form of economic crimewill be subject to severe criminal sanctions, as stipulated in the Criminal Code (KUHP) and the Currency Law (Law No. 7 of 2011). Sanctions can include imprisonment of up to 15 years and a fine of up to IDR 50 billion, depending on the level of intent and the perpetrator's actions (counterfeiting, distributing, or bringing into/out of Indonesia).