OJK Completes Investigations into Major Financial Crimes

Bankaltimtara Credit Fraud Case

The Financial Services Authority (OJK) has concluded its investigation into alleged banking crimes at PT BPD Kalimantan Timur dan Kalimantan Utara (Bankaltimtara), involving both the regional head office and Tanjung Selor branch management ²

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Source 3

https://keuangan.kontan.co.id/news/ojk-tuntaskan-penyidikan-dugaan-tindak-pidana-perbankan-di-bankaltimtara

. The investigation, conducted in collaboration with North Kalimantan Police investigators, uncovered that between November 2022 and March 2024, Bankaltimtara officials and debtors allegedly created false credit records and reports for 47 credit facilities extended to 16 debtors ²

Source 2

https://finance.detik.com/moneter/d-8246672/ojk-rampungkan-penyidikan-kredit-palsu-bankaltimtara

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Bintang Jasa Selaras Insurance Premium Embezzlement

In a separate case, OJK resolved a significant insurance premium embezzlement case involving PT Bintang Jasa Selaras Insurance Broker. The company's management was found to have misappropriated Rp3.05 billion belonging to Perumda BPR Bank Kota Bogor and Rp3.93 billion belonging to PT Jamkrida Sulawesi Selatan between 2018 and 2022, totaling Rp6.98 billion in embezzled funds ¹

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Legal Implications and Regulatory Action

The OJK has applied Article 49 Paragraph (1) letter a and Paragraph (2) of Law No. 7/1992 on Banking as amended by Law No. 4/2023 in the Bankaltimtara case, demonstrating strong regulatory action against banking malpractices ²

. These developments highlight OJK's commitment to maintaining financial sector integrity through rigorous oversight and enforcement.