Indonesia’s Financial Crime Investigation Agencies Make Significant Progress in 2022

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Indonesia’s financial regulatory agency, the Indonesian Financial Services Authority (OJK), has made significant progress in its investigative work in 2022. According to officials, the agency completed investigations into 20 cases in the financial sector last year.

Investigations and Achievements

The OJK’s investigative authority was utilized to resolve these cases, which were declared complete by public prosecutors and referred to the Prosecutor’s Office. Of the 20 cases, 18 involved banking institutions, while two were related to non-bank financial industry (NBFI) players.

Investigative Team

OJK has a team of 17 investigators, comprising 12 police investigators and five civil servant investigators. The agency regularly coordinates with law enforcement agencies and institutions, including the Indonesian National Police (POLRI), the Attorney General’s Office, the Financial Intelligence Unit (PPATK), and the Deposit Insurance Corporation (LPS).

Education Sessions on Crime Prevention

In addition to its investigative work, OJK delivers education sessions on crime prevention in the financial services sector. Last year, the agency conducted such sessions with law enforcement agencies in several provinces, including Central Sulawesi, East Java, and Yogyakarta.

Recognition for Investigative Work

OJK’s investigative work has been recognized by the Criminal Investigative Department of the Indonesian National Police, which awarded the agency as Best Investigator for its achievements in enforcing laws in the financial services sector last year. The agency was also named the best institution in completing investigations under the category of Civil Servant Investigators in Ministries/Agencies.

Outlook

With these consolidations and law enforcement measures in place, OJK is optimistic that the stability of Indonesia’s financial system can be maintained, particularly in light of increased external risks and efforts to support national economic recovery.