OJK Names Suspect in PT BPR Sumber Artha Waru Agung Case

The Financial Services Authority (OJK) has completed its investigation into an alleged banking crime at PT BPR Sumber Artha Waru Agung (SAWA) in Sidoarjo, East Java. Agus Firmansyah, Head of the OJK’s Integrated Financial Services Sector Surveillance and Policy Department, stated that the OJK handed over the suspect and evidence to public prosecutors at the Sidoarjo District Prosecutor’s Office on 9 July 2026. The conclusion of the investigation follows a tiered supervisory process, ranging from routine oversight and special examinations to inquiries and full investigations. In this case, the OJK has named one suspect, identified by the initials KI, who served as President Director of PT BPR SAWA. OJK investigators had previously transferred the case file to prosecutors, and on 29 June 2026, the file was declared complete. The investigation found that the alleged criminal acts occurred between November 2017 and August 2019. The suspect is believed to have deliberately caused false entries in the bank’s books, reports, or documents, and/or deliberately failed to take necessary steps to ensure the bank’s compliance with statutory regulations. These actions were carried out through the initiation and/or approval of credit facilities, repeated credit extensions, and/or increases in credit ceilings for 13 credit facilities across 11 debtors, with a total ceiling of Rp5.835 billion, in a manner inconsistent with applicable regulations. The OJK had previously revoked PT BPR SAWA’s business licence on 24 July 2024. This administrative action does not nullify criminal liability, and the OJK continued the investigation until the case was deemed complete and entered the prosecution stage. The suspect is charged under the Banking Law and faces a maximum penalty of 15 years’ imprisonment and/or a fine of Rp5 billion. The OJK emphasised that the completion of this investigation demonstrates its commitment to carrying out its regulatory, supervisory, examination, and investigative functions professionally, firmly, consistently, and sustainably to maintain the integrity of the financial services sector and provide public protection. The authority will continue to strengthen coordination with law enforcement agencies, including the Indonesian National Police and the Attorney General’s Office, as part of efforts to enhance governance in the financial services sector and maintain public trust.