Jakarta – Transnational Terrorism
Financing in the Context of State Crisis and Its Implications for Indonesia: A
Case Study of Venezuela. This research was conducted by Hendri
Puja Kusuma, Rudy Sutanto, and Agus Hasan S. Reksoprodjo from the Asymmetric
Warfare Study Program, Defense University of the Republic of Indonesia, in a
scientific article published in the International Journal of Scientific
Multidisciplinary Research (IJSMR) Vol. 4 No. 2 of 2026.
Research conducted by Hendri Puja Kusuma, Rudy Sutanto, and Agus
Hasan S. Reksoprodjo revealed that the state crisis is not only a domestic
economic or political problem. As institutions weaken, financial supervision is
loose, and the informal economy grows uncontrollable, space opens up for
organized crime networks and terrorist groups to take advantage of these
loopholes. In an interconnected global context, the impact can spread to other
countries, including Indonesia.
Terrorism
financing as a non-military threat
This research
shows that terrorism financing is not just an ordinary illegal activity. Funds
are the main foundation for terrorist group operations, ranging from
recruitment, training, logistics, propaganda, to the implementation of actions.
The sources are also diverse, not only from narcotics trafficking or money
laundering, but can also infiltrate through legal channels such as donations,
charitable foundations, and digital transactions.
The research
team found that in countries experiencing prolonged crises, the function of
financial supervision is significantly weakened. Law enforcement agencies lose
optimal capacity, interagency coordination declines, and the informal economy
grows without effective controls. This creates a favorable ecosystem for
cross-border organized crime.
The approach
used in this study is normative legal research combined with conceptual
analysis and case studies. National and international legal documents were
analyzed to see how regulatory frameworks work in the face of the threat of
terrorism financing
Venezuela: a
multidimensional crisis and a financial gap
Venezuela is a
concrete example of how the state crisis intersects with the dynamics of
transnational terrorism financing. The prolonged economic crisis,
hyperinflation, and a weakening banking system are driving a major shift to the
informal sector. The state loses the optimal ability to monitor the flow of
transactions.
The study noted
several key patterns:
- The weakening of the financial supervision system due
to the institutional crisis.
- Increase in illegal economic activity and organized
crime.
- The low effectiveness of international cooperation in
financial investigations.
- The formation of a symbiotic relationship between
criminal networks and terrorism financing.
In this
context, terrorism financing no longer stands alone. It is integrated with
narcotics trafficking, smuggling, and money laundering networks that operate
across borders. The study emphasizes that these threats are asymmetrical. There
is no direct military invasion, but economic stability and the credibility of
the financial system could be slowly eroded.
Direct
implications for Indonesia
As a country
with an open financial system and high global connectivity, Indonesia is not
completely immune to the spillover of risks from other countries' crises. Cross-border
transaction flows, developments in financial technology, and the use of digital
assets increase the complexity of supervision.
Indonesia
already has a legal basis through Law Number 9 of 2013 concerning the
Prevention and Eradication of Terrorism Financing Crimes. This regulation
includes criminalization of the provision of funds, reporting suspicious
transactions, freezing assets, and international cooperation.
However, this
study reminds that the resilience of the system does not only depend on written
regulations. Economic stability, governance transparency, and the capacity of
supervisory institutions are key factors. Strengthening the role of
institutions such as PPATK, financial services authorities, and central banks
is an important part of the prevention strategy.
Strategies
to strengthen the national system
The researchers recommend several strategic steps for Indonesia:
1.
Increased supervision capacity of the financial
sector, including the non-bank sector and digital assets.
2.
Strengthening coordination between law
enforcement agencies and financial intelligence agencies.
3.
Optimization of international cooperation in
information exchange and mutual legal assistance.
4.
Increasing national economic resilience as part
of the security strategy.
The proposed
approach is comprehensive, combining security, economic, legal, and diplomatic
aspects. Terrorism financing is positioned as a non-traditional security threat
that requires a cross-sectoral response.
Global
relevance and policy message
These findings
confirm that state crises can trigger the birth of a transnational crime
ecosystem that is difficult to control. For policymakers, the key message is
clear: maintaining economic stability and financial system integrity is just as
important as security operations.
For the banking
and financial services sector, this research strengthens the urgency of
applying the principle of prudence (know your customer), reporting
suspicious transactions, and adapting to digital risks. In the context of Southeast
Asia, lessons learned from Venezuela are an important reference to strengthen
regional resilience to cross-border illicit fund flows.
Author
Profile
1.
Hendri Puja Kusuma –Defense University of
the Republic of Indonesia
2.
Rudy Sutanto –Defense University of the
Republic of Indonesia.
3.
Agus Hasan S. Reksoprodjo Defense University of the Republic of
Indonesia.
Research
Source
Kusuma, H. P., Sutanto,
R., & Reksoprodjo, A. H. S. (2026). Transnational Terrorism Funding in
the Context of State Crisis and Its Implications for Indonesia through a Case
Study of Venezuela.
International Journal
of Scientific Multidisciplinary Research (IJSMR), Vol. 4 No. 2
DOI: https://doi.org/10.55927/ijsmr.v4i2.3
Official URL : https://journalijsmr.my.id/index.php/ijsmr
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