Founder and Boss of Koinworks Detained by Prosecutors, OJK Takes These Steps

Indonesia’s Financial Services Authority (OJK) is taking note of reports and information regarding the law enforcement process carried out by the Jakarta Special Region High Prosecutor’s Office (Kejati DKI Jakarta) against PT Lunaria Annua Teknologi (“KoinP2P”). In this regard, OJK respects and fully supports the law enforcement process conducted by law enforcement authorities in accordance with applicable laws and regulations.

Head of the Surveillance and Integrated Financial Services Sector Policy Department, Agus Firmansyah, stated that OJK is currently intensively monitoring KoinP2P as an Information Technology-Based Peer-to-Peer Lending Service Provider (LPBBTI/P2P).

“In connection with the ongoing legal process and the detention of KoinP2P’s management by the Jakarta Special Region High Prosecutor’s Office, OJK has summoned the shareholders to emphasise that responsibility for the continuity of KoinP2P’s business activities remains with the shareholders, including ensuring that operations and services to the public continue in accordance with applicable provisions,” he said in a written statement on Friday (8/5/2026).

In response to developments and public attention regarding KoinP2P, OJK has taken various steps, including:

• Summoning KoinP2P’s management and shareholders to request commitments for resolving issues, particularly related to obligations to lenders;

• Conducting direct examinations and comprehensive evaluations of KoinP2P’s operations, infrastructure, governance, and business model, including instructing necessary improvement measures;

• Performing special examinations/investigative audits in accordance with applicable provisions;

• Closely monitoring efforts to settle obligations to lenders, resolve problematic financing, and other fundamental improvement measures to maintain business continuity and services to the public;

• Implementing compliance enforcement and administrative sanctions against parties proven to have committed violations and/or failed to meet commitments, including reassessment of principal parties in accordance with applicable provisions; and

• Encouraging associations to take necessary steps to keep the P2P industry healthy and contributing to public financing, particularly for MSMEs.

In addition, OJK is carrying out various supervisory, compliance enforcement, and strengthening measures for the P2P industry to maintain industry stability and consumer protection, including through:

• Issuance of OJK Regulation No. 40 of 2024 on Information Technology-Based Peer-to-Peer Lending Services to strengthen institutional aspects, governance, risk management, and consumer protection;

• Regulations on the maximum economic benefits that can be imposed on borrowers;

• Strengthening industry supervision, including:

• Requirements for loan disbursements only to accounts in the borrower’s name;

• Strengthening electronic know-your-customer (e-KYC) processes and credit scoring;

• Enhancing internal control functions and prevention of fictitious transactions;

• Requirements for P2P industry players to display risk disclaimers on their websites; and

• Strict compliance enforcement and administrative sanctions, including revocation of business licences and follow-up on suspected criminal acts in collaboration with law enforcement authorities.

“OJK will continue to strengthen regulations and supervision of the P2P industry in a measured manner to realise a healthy, transparent, efficient, and integrity-driven industry, while providing optimal protection for users of financial services,” he explained.

Through these measures, the P2P industry is expected to grow healthily and accountably in supporting public financing, particularly in the productive sector and MSMEs.

For the record, the Jakarta Special Region High Prosecutor’s Office has named three suspects in the alleged corruption case. The case involves manipulation of credit applications through the Koinworks fintech platform involving a state-owned bank.

The three suspects in this case are BAA (Operational Director of PT LAT from 2021 to present); BH (President Director of PT LAT from 2015 to 2022 and Commissioner of PT LAT from 2022 to present); and JB (President Director of PT LAT from 2024 to present).