OJK urged to implement early detection in supervisory system

Jakarta (ANTARA) - The Financial Services Authority (OJK) is being urged to bolster its early detection system within the supervision of the financial services sector so that potential violations can be identified more quickly before causing broader impacts.

Financial consultant and planner Elvi Diana, in a written statement in Jakarta on Wednesday, said that suboptimal supervision provides loopholes for financial services institutions (LJK) to engage in deviations or fraud that harm the public.

According to Elvi, the use of supervisory technology, strengthened audits, and reporting transparency can be part of efforts to support more effective supervision.

The alleged fraud case at the online lending company PT Crowde Membangun Bangsa (CMB), she said, can serve as an important example of the need to strengthen such systems.

That case shows that alleged data manipulation and recording that occurred over a certain period need to be a lesson for all stakeholders to improve control mechanisms.

She also encouraged OJK to use this momentum for internal evaluation, while strengthening technology-based supervision systems and risk management to maintain public trust in the financial services sector.

As a note, OJK has imposed various sanctions on financial services business actors (PUJK) during the period from 1 January 2026 to the end of March 2026 as a step in enforcing regulations and protecting consumers.

These sanctions consist of 33 written warnings to 31 PUJK, 3 written instructions to 3 PUJK, and 15 fines to 13 PUJK.

Meanwhile, on the behavioural supervision or market conduct side, OJK has also imposed 17 administrative sanctions in the form of written warnings and 11 administrative sanctions in the form of fines.

OJK also blocked 953 illegal online lending entities throughout the first quarter of 2026. This blocking is the follow-up to 10,516 complaints received by OJK from January to March 2026. Of these, 5,515 were complaints regarding illegal online lending, 1,933 complaints related to illegal investments, and 68 complaints related to illegal pawns.