JAKARTA - The Corruption Eradication Commission (KPK) has reminded of the high risk of corporate crime in the capital market sector which is prone to fraud and corruption practices, ranging from share price manipulation to misuse of customer funds.
This was conveyed by the Director of Community Participation Development (Permas) of the KPK, Kunto Ariawan, when he held a socialization with PT RHB Sekuritas Indonesia. He revealed a number of modus operandi that often occur in the capital market,
"In the case of misuse of funds or customer effects, there is a practice of using the Customer Fund Account without permission, even selling customer shares without a valid instruction," said Kunto, quoted from the KPK's official statement, Monday, April 20.
In addition, market manipulation practices are also a pattern that is often found. The mode is diverse, such as excessive transactions for commissions or churning, engineering closing prices or marking the close to dummy transactions and spreading false rumors.
In addition, the perpetrator also often provides misleading information to investors, such as promising certain profits on risky instruments or hiding material facts related to issuers.
The KPK further highlighted the practice of off-market dealings which are considered very dangerous. In this scheme, customers are asked to transfer funds to an individual's personal account with the lure of high profits or exclusive stock access which turns out to be fictitious.
According to Kunto, this condition shows that the capital market sector is not only vulnerable technically, but also from the integrity of business actors. Therefore, more massive prevention efforts are needed.
"Preventing corruption in the private sector, focusing on the development of a system that is self-assessment, practical, and can be adjusted to the size and capacity of the corporation," he said.
Companies, said Kunto, need to build prevention systems that include identifying corruption risks, controlling gratification, managing conflicts of interest, and implementing good corporate governance principles.
The KPK also emphasized four integrity principles that must be held by business actors, namely No Bribery, No Gift, No Kickback, and No Luxurious Hospitality.
"These four principles are the foundation for building an integrity and corruption-free business culture. Without a real commitment, companies risk falling into crimes that have legal, reputational, and business sustainability impacts," he said.
Based on KPK data, as many as 1,132 out of 1,827 corruption cases since 2004 to the first quarter of 2026 or about 62 percent were gratuities and bribes. This figure confirms that the practice of corruption is also deeply rooted in the business sector.
Through the Anti-Corruption Business World program, the KPK seeks to encourage the active involvement of the private sector in building a transparent and integrity system.
"With the synergy between regulators, business actors, and the community, the KPK is optimistic that the capital market sector and the Indonesian business world will be able to grow healthy, transparent, and free of corruption," concluded Kunto.
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