OJK Intervenes Following Corruption Allegations Involving KoinWorks Executives

The Financial Services Authority (OJK) has intervened in the alleged corruption case involving the distribution of credit that has implicated the fintech firm KoinWorks. Following the detention of three high-ranking executives, the OJK has summoned KoinWorks’ shareholders to ensure that company operations and public services remain uninterrupted.

The three individuals identified as suspects and currently in custody are BAA, Director of Operations at PT Lunaria Annua Teknologi (PT LAT/KoinP2P) from 2021 to the present; BH, President Director of PT LAT from 2015–2022 and Commissioner from 2022 to the present; and JB, President Director of PT LAT since 2024.

OJK Chairperson Friderica Widyasari Dewi stated that the summons was conducted in response to the ongoing legal process and complaints received by the regulator. “In relation to the ongoing legal process and the detention of KoinP2Prime management by the Jakarta High Prosecutor’s Office, as well as to follow up on complaints to the OJK, the OJK has summoned the shareholders,” said Dewi during a press conference on Friday (5/6/2026). She added that the responsibility for maintaining business continuity rests with the shareholders, including ensuring that operations and public services continue in accordance with applicable regulations.

Previously, the Jakarta Special High Prosecutor’s Office named three PT LAT executives as suspects in an alleged corruption case involving the manipulation of credit applications. The suspects are alleged to have conspired to conduct improper financing analyses and unlawfully channel funds from a state-owned bank to various customers.

Agus Firmansyah, Head of the Surveillance and Integrated Financial Services Sector Policy Department at OJK, emphasised that the authority fully respects and supports the ongoing legal process. “OJK is currently providing intensive supervision of KoinP2P as a Peer-to-Peer Lending Service Provider (LPBBTI/Pindar),” Agus stated in a written release on Friday (8/5/2026).

In response, KoinWorks stated that it will respect the ongoing legal proceedings and maintains the principle of the presumption of innocence. The company noted that the matter pertains to an institutional funding partnership (channeling) scheme with a state-owned bank. KoinWorks expressed confidence that all facts regarding the roles of the parties involved in the funding scheme will be clarified transparently through the legal mechanism.