Ombudsman Receives 28 Community Reports On CoFTRA, Total Loss Reaches IDR 60 Billion

The Ombudsman of the Republic of Indonesia (RI) has received 28 public complaints regarding the Commodity Futures Trading Supervisory Agency (CoFTRA). A total of 27 complaints entered in 2023 and the rest in 2022.

RI Ombudsman member Yeka Hendra Fatika said the 28 cases were related to an alternative trading system (SPA) which received complaints from the public because it was suspected that it was not transparent, causing material losses.

"Well, of these 28 reports, our team calculated the total material losses borne by the community of more than Rp. 60 billion," Yeka said at a press conference at the Indonesian Ombudsman Building, Jakarta, which was monitored online on Monday, October 30.

Yeka did not specify the names of the companies involved. He only gave the initials of the company. Of the total 28 reports, the Ombudsman is currently conducting an examination of 6 reports.

"3 involving PT MAF, and 3 more involved PT BF. The total public losses from the 6 reports that are being followed up are around Rp 3.6 billion," he said.

Yeka considered that CoFTRA's lack of seriousness in resolving complaints from the community. In fact, he said, the complaint should be resolved internally by CoFTRA itself.

"So, the report should not have come to the Ombudsman. So, actually, if the public has reported it to CoFTRA, yes, just finish it," he said.

As for October 6, 2023, the Ombudsman also held a press conference and said that the total loss from the 28 complaints submitted to the Ombudsman was around Rp. 100 billion.

This number includes the SPA case between the reporter Sugiyarto Hadi and PT Monex Investindo Futures (MIF) and PT Surya Anugerah Mulia (SAM). It is claimed that the complainant suffered losses of up to Rp34 billion by PT MIF and SAM in 2014.