P2SK Law Applies, OJK Records Has Handled 17 Case Files

Deputy Chairman of the OJK Board of Commissioners Mirza Adityaswara (Photo: Doc. VOI)

JAKARTA - The Financial Services Authority (OJK) noted that since the Financial Sector Development and Strengthening Law (UU P2SK) took effect, OJK investigators have handled 17 case files that have been declared complete.

"In 2023 or since the enactment of the P2SK Law, OJK investigators have completed 17 case files declared complete or P21 consisting of 13 banking cases and 4 cases of Non-Bank Financial Industry (IKNB)," said Deputy Chairman of the OJK Board of Commissioners Mirza Adityaswara at the press conference of the OJK Board of Commissioners meeting in September, Monday, October 9.

He continued, as of October 9, 2023, OJK investigators are also handling 26 cases that have entered various stages, including the study stage, the investigation stage and the investigation stage consisting of 14 banking cases, 4 capital market cases and 8 IKNB cases.

"From 2014 to October 9, 2023, OJK investigators have completed a total of 115 cases declared complete, consisting of 90 banking cases, 5 capital markets and 20 IKNB cases," Mirza continued.

He further said that the OJK had also issued OJK regulation No. 16 of 2023 on August 4 concerning Criminal Investigations in the Financial Services Sector (POJK Penyidikan).

Mirza said that the preparation of POJK was a follow-up to the mandate of P2SK. In accordance with the P2SK Law, the arrangement that has changed at POJK 16/2023 is regarding the scope of criminal acts in the financial services sector, the OJK investigator category, the authority of OJK investigators, including investigating money laundering crimes.

Then, also the settlement of violations of laws and regulations in the financial services sector, as well as the expansion of information and Financial Services Institutions (LJK) that can be requested for information and blocking accounts.

Article 6, it is explained that OJK investigators have the authority to determine whether or not an investigation is carried out into alleged criminal acts in the financial services sector that were carried out before the investigation began. In carrying out the investigation, OJK is said to have coordinated with the Indonesian National Police.

At the investigation stage as referred to in Article 6 paragraph (2), parties suspected of committing criminal acts in the financial services sector can also apply to the OJK to resolve violations of laws and regulations in the financial services sector.

The settlement of violations was carried out by submitting an application to the OJK by containing the value of the losses incurred and the basis for the calculation, the number of victims who were harmed and other information related to victims, the form of settlement of losses and the term of completion, clauses if losses are not resolved by the OJK are authorized to proceed to the investigation stage, and efforts to improve business processes and governance.