Construction of internal control system of financial institutions for money laundering prevention

2015 ◽  
Vol 5 (2) ◽  
pp. 121-161
Author(s):  
Young Hoa Son
Keyword(s):  
Control System ◽  
Money Laundering ◽  
Financial Institutions ◽  
Internal Control ◽  
Internal Control System

scholarly journals Peranan Pengendalian Internal Sebagai Alat Bantu Manajemen Dalam Pengamanan Pemberian Kredit Mikro

2013 ◽  
Vol 1 (3) ◽  
pp. 181-192
Author(s):  
Dewi Puspa Wijaya Kusuma ◽  
David HM Hasibuan
Keyword(s):  
Control System ◽  
Financial Institutions ◽  
Internal Control ◽  
Internal Controls ◽  
Business Unit ◽  
Credit System ◽  
Credit Policy ◽  
Internal Control System

Bank, as financial institutions in banking, is a unique and exciting company to be exploredfurther because the bank as intermediary media have an important role and more or less influencedthe development of a country's interconnected economy, especially in Indonesia. Given the bank'sunderstanding of itself as an institution that functions as a funding channel to the communitiesthat need, it iscertainly not free from two things likely happened to the bank itself, could lead to thepositive impact of increased interest earned from lending or risk of the debtor problematic.Evaluation conducted to determine whether internal controls are adequate conducted by thecompany and assist management in securing credit. Research on the author is in the PT. Bank XCluster Micro Business Unit (Central Branch) located in Bogor. PT. Bank X is a companyengaged in banking. Based on the results obtained from the authors note that the company'sinternal controls are carried out in the PT. Bank X is represented by the Cluster Manager isadequate. Control is inadequate because it was the clarity of separation of duties, creditauthorization, and appropriate documents. Internal control is performed by the Cluster Manager isupdated from time to time. The results of a study conducted by researchers showed that the internalcontrol carried out by PT. Bank X was instrumental in securing the provision of credit and internalcontrol systems are contained in the PT. Bank X has been inadequate. This can be seen from eachof the components that make up the internal controls at PT. Bank X. With the separation ofduties, imposed credit policy and authorization functions loans are already well underway. It isalso seen from the Internal Control Flowchart Questionnaire and that the company has met all fivecomponents of internal control system according to COSO. Credit system and its protection goeswell and there is evidence that in accordance with the loan documents.

scholarly journals Beyond the three lines of defense: The five lines of defense model for financial institutions

2021 ◽  
Vol 10 (1) ◽  
pp. 95-110
Author(s):  
Georgios Loukas Vousinas
Keyword(s):  
Control System ◽  
Financial Institutions ◽  
Internal Control ◽  
External Audit ◽  
Internal Auditors ◽  
External Auditors ◽  
Design And Implementation ◽  
Internal Control System ◽  
Defense Model

he purpose of this study is to provide an updated version of the widely accepted three lines of defense model (3LoD) to better apply for regulated financial institutions. The author proposes the five lines of defense model (5LoD) which consists of the existing three lines along with external audit and regulators (comprising the fourth and fifth line of defense respectively). In spite of the fact that the bodies forming the two additional lines of defense constitute the external lines of defense, there should be active in supervising and monitoring control issues within the organization, in strong cooperation with the internal lines. This calls for closer interaction among the internal auditors, external auditors and regulators in the design and implementation of an efficient and effective internal control system, aiming to strengthen the existing framework regarding the governance of modern financial institutions, which operate in a highly demanding regulated environment.

scholarly journals IPTEKS PENGENDALIAN INTERN DENGAN MENGGUNAKAN UNIT APU DAN PPT PADA PT. BANK SULUTGO

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Amanda N. Mangangantung ◽  
Ventje Ilat
Keyword(s):  
Control System ◽  
Money Laundering ◽  
Internal Control ◽  
Financial Services ◽  
Financial Service ◽  
Regional Government ◽  
Financial Service Provider ◽  
North Sulawesi ◽  
Internal Control System ◽  
Funding Programs

The level of money laundering cases is increasingly high and the issue of terrorism is so high at this time. making companies engaged in financial services must be more careful so as not to become a means for criminals to carry out their actions. SulutGo Bank is a Bank whose share ownership is managed by the Regional Government of North Sulawesi Province. In accordance with OJK regulation No. 12 of 2017 which requires that the implementation of anti-money laundering and prevention of terrorism funding programs in the financial service provider sector, then Bank SulutGo establish the A and PPT Unit (Anti Money Laundering and Prevention of Terrorism Funding). With the establishment of the APU and PPT Unit, it is expected to be able to help the internal control system carried out by PT. SulutGo Bank. And it can also minimize the occurrence of crime of money laundering and funding of terrorist activities.Keywords :  Internal Control, APU-PPT units

Pengaruh Kualitas Sumber Daya Manusia, Pemanfaatan Teknologi Informasi, Dan Sistem Pengendalian Intern Terhadap Ketepatwaktuan Pelaporan Keuangan Pemerintah Desa

2018 ◽  
Vol 26 (2) ◽  
pp. 131-143
Author(s):  
Marlinawati Marlinawati ◽  
Dewi Kusuma Wardani
Keyword(s):  
Information Technology ◽  
Control System ◽  
Human Resources ◽  
Financial Reporting ◽  
Internal Control ◽  
Positive Influence ◽  
Internal Control System ◽  
Speed Up ◽  
Village Government

The purpose of this research is to know the influence between the Quality of Human Resources, Utilization of Information Technology and Internal Control System Against Timeliness of Village Government Financial Reporting at Gunungkidul Regency. This research is causative research. The population is the village government in Gunungkidul Regency, especially in Gedangsari subdistrict. Criteria of respondents in the study were to village and village apparatus. We use questionnaire to collect data. We use multiple regression with SPSS program version 16.0 to analyze data. We find that quality of human resources and internal control system have a positive influence on the timeliness of village government financial reporting. On the other hand, utilization of information technology does not influence the timeliness of village government financial reporting. These imply that the quality of human resources and internal control system can speed up the preparation of village government financial reporting.

Pengaruh Sistem Pengendalian Internal Pemerintah dan Kompetensi Pegawai Terhadap Kinerja Instansi Pemerintah Kabupaten Karimun

2020 ◽  
Vol 5 (1) ◽  
pp. 101-106
Author(s):  
Doni Putra Utama
Keyword(s):  
Control System ◽  
Control Systems ◽  
Internal Control ◽  
Statistical Tests ◽  
Government Agencies ◽  
Government Performance ◽  
Significant Positive Effect ◽  
Internal Control System ◽  
Employee Competencies ◽  
Positive Effect

This research is a causality study with the title "Effect of Government Internal Control Systems and Employee Competence on the Performance of Government Agencies in Karimun Regency." The purpose of this study was to determine the effect of the implementation of the Government's Internal Control System on the performance of Karimun Regency government agencies and to determine the effect of employee competence on the performance of Karimun Regency government agencies. Data collection using a questionnaire where the questionnaire contained questions about the Government's Internal Control System, employee competencies and agency performance. Data were tested using multiple linear regression statistical tests. Based on the results of the study, it can be concluded that the governmental internal control system has a significant positive effect on Government Agency Performance with the results of statistical tests that show a sig value of 0.016 <0.05 (alpha 5%). Employee Competency has a significant positive effect on Government Performance with the results of statistical tests showing a sig value of 0,000.

THE INFLUENCE OF INTERNAL CONTROL SYSTEM EFFECTIVENESS, COMPENSATION COMPLIANCE, AND INFORMATION ASYMMETRY ON THE TENDENCY OF ACCOUNTING FRAUD (A CASE STUDY ON SEHATI CREDIT UNION)

2019 ◽  
Vol 24 (1) ◽  
pp. 23-35
Author(s):  
Amalia Nurul Hidayah ◽  
Misdiyono
Keyword(s):  
Control System ◽  
Information Asymmetry ◽  
Significant Influence ◽  
Internal Control ◽  
Secondary Data ◽  
Credit Union ◽  
Accounting Fraud ◽  
Internal Control System ◽  
System Compensation ◽  
System Effectiveness

A cooperative is a governmental organization established to enhance economic growth and national unity. As the development of the law on cooperatives, the present and developing institutions similar to Savings and Loan Union is called Credit Union. A cooperative is very vulnerable to the risk of loss. Insecurity is possible because of the tendency of accounting fraud. Some things that can affect the tendency of accounting fraud are internal control, compliance compensation, and information asymmetry. This research aims to determine whether there is any influence of internal control system effectiveness, compensation compliance, and information asymmetry on the tendency of accounting fraud. The research uses the quantitative method, and the research subject is Sehati Credit Union. The research data consist of primary and secondary data, especially the purposive sampling data which are collected from 36 respondents. Whereas, the data analysis technique uses multiple regression analysis using SPSS 21 software for Windows. The research concludes that the effectiveness of internal control system has a partially positive significant influence on the tendency of accounting fraud, compensation compliance has a partially negative significant influence on the tendency of accounting fraud, and information asymmetry has a partially positive significant influence on the tendency of accounting fraud. It means that the effectiveness of the internal control system, compensation compliance, and the information asymmetry have significant influences on the tendency of accounting fraud. Keywords: Internal Control System, Compensation Compliance, Information Asymmetry, Accounting Fraud.

ORGANIZATION OF INTERNAL CONTROL IN A REMOTE WORK ENVIRONMENT

2020 ◽  
Vol 3 (8) ◽  
pp. 73-79
Author(s):  
NGUYEN THI HA MY ◽  
Keyword(s):  
Control System ◽  
Work Environment ◽  
Internal Control ◽  
Business Processes ◽  
Rapid Development ◽  
Remote Work ◽  
Use Of Technology ◽  
Internal Control System ◽  
The Russian Federation ◽  
Ministry Of Finance

With the rapid development and widespread use of technology, business processes are being transformed. One of the consequences of the implementation of technologies into the business is the partial transition to remote work, which made it necessary to reflect the corresponding changes in the internal control system (IC). The article is devoted to the analysis of the main shortcomings identified during the transition to the remote mode, in response to which measures are proposed to adapt the IC to the conditions of remote work. Identifies the following areas for improvement of the internal control system. In response to the identified areas successful practical examples are analyzed and potential measures are proposed in the context of the elements identified in the COSO conceptual framework and methodological documents of the Ministry of Finance of the Russian Federation.

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