Ombudsman Questions CoFTRA's Seriousness In Handling Allegations Of Bankruptcy

Illustration. (Photo: Doc. Antara)

The Ombudsman of the Republic of Indonesia (RI) assessed that the Commodity Futures Trading Supervisory Agency (CoFTRA) was slow in completing public reports on losses at broker companies.

The reason is that the complaints received by the public internally by CoFTRA have been carried out since 455-853 days ago, but have not received a response.

"If we see, the handling of the case has been almost more than 455 days, so this person has reported to CoFTRA, so because he didn't respond, he just reported it to the Ombudsman. So, if 455 days means almost 1.5 years, if it's been 853 days, it means more than 2.5 years. Well, it means that there is something wrong, isn't this serious?," said RI Ombudsman Member Yeka Hendra Fatika at a press conference at the Indonesian Ombudsman Building, Jakarta, which was monitored online on Monday, October 30.

It is known, during 2022-2023, the Ombudsman has received 28 reports from the public regarding allegations of fraud by brokerage companies and traders in commodity futures trading. Community losses reached around Rp. 60 billion.

A total of 27 reports were received by the Ombudsman in 2023. Meanwhile, in 2022, the Ombudsman only received 1 report. Of the 28 reports, there are 6 reports that are being examined by the Ombudsman with a loss of around Rp. 3.6 billion. Of these, 3 reports involved PT MAF and 3 other reports involving PT BF.

Yeka assessed that the public should not have to report and come to the Ombudsman. This is because the authority of CoFTRA, which according to Yeka, is very powerful. "This CoFTRA has very powerful authority, there are investigators, there are defenders, judges too," he said.

According to him, with such a large authority, CoFTRA should be able to quickly resolve complaints from the public. However, in reality, of the 6 reports that are being examined by the Ombudsman, there are public reports to CoFTRA for up to 455 days and have not received a response to date.

"The Ombudsman sees that CoFTRA is very not serious in resolving public complaints. If the public has reported it to CoFTRA, it should be followed up. With the authority of CoFTRA, it should be able to show speed in completing public reports," he said.