The Antam gold refining corruption case revealed a sophisticated scheme of institutional fraud involving six former executives of Indonesia's state-owned mining company, resulting in an estimated state loss of Rp3.31 trillion (US$203.19 million). Between 2010 and 2022, these high-ranking officials systematically bypassed corporate governance protocols by forming unauthorised partnerships with seven private-sector individuals and entities in the gold refining and smelting business. The executives, including former Vice Presidents and General Managers from Antam's Precious Metal Processing and Refining Business Unit, deliberately circumvented standard business procedures by conducting transactions without proper due diligence, risk assessments, or Board of Directors' approval. Their actions raised critical concerns about potential links to illegal mining, Money Laundering, and even terrorism financing, as they accepted gold from clients without rigorous verification of its origin. The scale of corruption was extraordinary, with private sector collaborators individually profiting billions of rupiah.