Indonesia's OJK Hands Over Suspects in Multiple Banking and Insurance Fraud Cases

Indonesia’s Financial Services Authority (OJK) has transferred suspects and evidence to prosecutors in several financial‑crime investigations.

In Sidoarjo, OJK handed over director‑initial KI of PT BPR SAWA for allegedly approving, extending and raising credit facilities for 13 loans amounting to roughly Rp 5.84 billion between November 2017 and August 2019. The regulator had revoked the bank’s licence in July 2024. The suspect faces up to 15 years imprisonment and a fine of up to Rp 5 billion.

In Malang, OJK transferred commissioner‑initial GK of PT BPR DCN after uncovering falsified bookkeeping, unauthorised cash withdrawals of about Rp 5.8 billion, fake gold‑collateral loans of Rp 600 million and unauthorised credit facilities totalling Rp 14.8 billion. The case also involves omitted deposits of roughly Rp 7.8 billion. The accused faces the same maximum penalties of 15 years’ jail and a Rp 5 billion fine.

Separately, OJK disclosed that Henry Surya, linked to the former PT Asuransi Jiwas Indosurya, misappropriated roughly Rp 600 billion of policy‑holder funds through prohibited investments in medium‑term notes and the conversion of those notes into equity. OJK seized his assets worth about Rp 113.97 billion. He is under investigation for serious insurance‑law violations and could also face up to 15 years imprisonment and a heavy fine.

These actions illustrate OJK’s intensified enforcement to protect the integrity of Indonesia’s financial system and safeguard the public’s trust.