What does this research mean for the field?

Money laundering risk in tourism-driven property markets is a systemic, ecological phenomenon driven by regulatory limitations, informal ownership practices, and weak gatekeeping, rather than merely a linear compliance failure. Novelty: ClaimNovelty.NOVEL_FINDING. Consensus alignment: ConsensusAlignment.ESTABLISHES_NEW_DIRECTION.

What question did this study set out to answer?

To examine how money laundering risks are generated, normalized, and maintained in tourism-driven real estate markets influenced by foreign ownership restrictions and uneven enforcement.

September 3, 2026Journal of Money Laundering Control

Hidden capital in tourism economy: an ecology of money laundering risk through property in Bali

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Authors

MSMala Sondang SilitongaIndonesian National Institute of Aeronautics and Space KSKeisha Dinya SolihatiState University of Jakarta IVIrwinda VanyaJakarta State Polytechnic

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Implication

Qualitative study uncovers systemic money laundering risks across tourism-driven real estate markets, highlighting the role of informal ownership practices and weak regulatory gatekeeping.

Key Points

To examine how money laundering risks are generated, normalized, and maintained in tourism-driven real estate markets influenced by foreign ownership restrictions and uneven enforcement.
Conducted a qualitative investigation using semi-structured interviews with key stakeholders across property transactions and sector governance.
Collected and analyzed legal documentation, regulatory frameworks, and judicial court cases.
Applied an ecological analytical framework to evaluate the interplay among economic pressures, regulatory constraints, informal ownership customs, and gatekeeper relations.
Informal ownership-substitution arrangements—including nominee contracts, sham marriages, and undercapitalized corporate shells—systematically obscure beneficial ownership and undermine source-of-funds verification.
Anti-money laundering vulnerabilities are actively sustained by weak know-your-customer enforcement, absent regulatory coverage of nonfinancial gatekeepers, and the trading of influence by politically exposed persons.

Cite This Study

Silitonga et al. (2026) studied this question.

synapsesocial.com/papers/6a9935e5636c6408cfa7e76f https://doi.org/10.1108/jmlc-01-2026-0021

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Implication

Qualitative study uncovers systemic money laundering risks across tourism-driven real estate markets, highlighting the role of informal ownership practices and weak regulatory gatekeeping.

Hidden capital in tourism economy: an ecology of money laundering risk through property in Bali

Discussion

Member takes

Implication

Key Points

Cite This Study

Hidden capital in tourism economy: an ecology of money laundering risk through property in Bali

Discussion

Member takes

Implication

Key Points

Cite This Study

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