Transnationalizing Corruption and Financial Capital Networks : The Case of 1MDB

Filolita Zatadini Prasetya, Luqman Nul Hakim, S.I.P., M.A., Ph.D

2026 | Skripsi | Ilmu Hubungan Internasional

This thesis explores how corruption is increasingly transnationalized through the interconnected structures of global financial networks and the expanding paradigm of financialized governance. It argues that corruption is no longer confined within national boundaries; instead, it is actively facilitated by international financial architectures—such as offshore jurisdictions, multinational banking systems, investment vehicles, and cross-border capital mobility—that create opportunities for illicit financial practices to flourish beyond the reach of domestic regulation. The research examines how financialized governance—characterized by the state’s reliance on financial markets, financial instruments, and market-based accountability mechanisms—further enables corruption to migrate across borders. In this model, governance itself becomes shaped by financial logics, creating institutional openings for political and economic elites to obscure financial flows, exploit regulatory gaps, and legitimize questionable transactions under the guise of financial innovation and market efficiency. By analyzing the mechanisms through which these global financial infrastructures and governance trends interact, the thesis demonstrates that transnational corruption is not merely the result of individual wrongdoing, but is structurally embedded in contemporary global capitalism.

This thesis explores how corruption is increasingly transnationalized through the interconnected structures of global financial networks and the expanding paradigm of financialized governance. It argues that corruption is no longer confined within national boundaries; instead, it is actively facilitated by international financial architectures—such as offshore jurisdictions, multinational banking systems, investment vehicles, and cross-border capital mobility—that create opportunities for illicit financial practices to flourish beyond the reach of domestic regulation. The research examines how financialized governance—characterized by the state’s reliance on financial markets, financial instruments, and market-based accountability mechanisms—further enables corruption to migrate across borders. In this model, governance itself becomes shaped by financial logics, creating institutional openings for political and economic elites to obscure financial flows, exploit regulatory gaps, and legitimize questionable transactions under the guise of financial innovation and market efficiency. By analyzing the mechanisms through which these global financial infrastructures and governance trends interact, the thesis demonstrates that transnational corruption is not merely the result of individual wrongdoing, but is structurally embedded in contemporary global capitalism.

Kata Kunci : Transnational corruption, global financial networks, financialized governance, managerial state, 1MDB, offshore finance, financial crime, political corruption