The Authority To Investigate In The PPSK Law Becomes The Strengthening Of OJK Functions

Illustration. (Photo: Doc. Antara)

The granting of authority to the Financial Services Authority (OJK) as an institution that has the right to conduct investigations in financial criminal cases as contained in the Law on the Development and Strengthening of the Financial Sector (UU PPSK) is a strengthening of the previous OJK Law.

Member of Commission XI DPR RI, M. Misbakhun, said that the substance contained in Article 49 paragraph (5) of the Fourth Section of the PPSK Law was in line with the regulations regarding the OJK that had been implemented so far.

"This is so that OJK has determinants in carrying out its duties and alley rules are issued to be respected by industry players. If the supervisor has the authority to criminal acts, the authority of the OJK is stronger," he said, in a written statement, Friday, December 30.

Misbakhun added that finance is one of the economic buffers that needs to be equipped with human resources (HR) and special infrastructure, including in the aspect of law enforcement.

In line with that, the composition of the OJK investigating team is even more diverse, namely from the police to civil servants (PNS).

"We hope that with this authority, strengthening law enforcement to enforce these rules is respected by the industry and does not produce violations that harm consumers and the state," he explained.

He added, in addition to providing legal certainty and consumer protection, the authority of the OJK in conducting investigations also aims to maintain the confidence of foreign investors in the investment climate in the country.

The reason is, if the legal infrastructure in the financial sector is solidly organized, then Indonesia has strong security guarantees and a solid investment ecosystem.

"Because the financial sector concerns public trust and the trust of the state internationally," said Misbakhun.