OJK Investigates 22 Cases of Financial Service in 2019

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) chief commissioner Wimboh Santoso said his agency has investigated 22 cases of financial services throughout 2019.

“For details, there are 17 cases of banking, 4 cases of the capital market, and one case of the non-bank financial industry,” said Wimboh during a meeting with the Finance Commission of the House of Representatives (DPR) at the Parliament Complex, Jakarta, Tuesday, February 4.

Wimboh added that 20 cases had been declared complete or at the P21 dossier stage, in which nine of them had reached inkracht (a final and binding court ruling). However, he stopped short of detailing the cases.

“I don’t remember the details. What’s important is not about ‘who’. If it’s a legal case, we will surely announce it, but for cases under investigation, it is still confidential,” Wimboh remarked.

Apart from the cases, Wimboh explained that his institution carried out several law enforcement in a variety of sectors last year, such as restricting the trading of certain reksa dana (mutual funds) to 36 investment managers.

OJK had also imposed administrative sanctions on three public accountants, suspended three accountant licenses and one securities company representative (WPE) license, and revoked a business license. In addition, the authority imposed 43-time fines with a total value of Rp11.74 billion.

Meanwhile, in the non-bank financial industry sector, the law enforcement executed throughout 2019 included the fine imposition on 164 businesses, restriction of 37 businesses, and revocation of 31 business licenses.

CAESAR AKBAR