The Role of the OJK (Financial Services Authority) in Preventing Illegal Investment Activities in Legal Entities in the Form of Cooperatives

DOI

10.2991/978-2-38476-164-7_33How to use a DOI?

Keywords

The Role of OJK; Fraudulent Investment; Cooperatives

Abstract

The Financial Services Authority (OJK) is an institution established with the aim of supervising financial institutions and has a role in preventing and overcoming illegal fundraising that occurs in society. Supervision is carried out so that the financial institutions under supervision do not commit violations and do not harm the community. Indonesia is listed as a country prone to illegal/fraudulent investments. This study aims to determine the role of the OJK (Financial Services Authority) in enforcing law against fraudulent investment activities and to find out the constraints of the OJK (Financial Services Authority) in enforcing laws against investment activities. bulging. The type of research used in the research here is to use normative legal research with statutory and conceptual approaches. The results of the research here are that the Financial Services Authority (OJK) is an independent institution without the interference of other parties that has the duty to regulate and supervise financial service institutions and protect consumers. The role of OJK is to regulate laws and regulations and implement the OJK Law in the financial services sector by providing written procedures for the sector. In addition, it also supervises so that consumers are protected by assigning administrative witnesses if they commit a violation and OJK did not hesitate to revoke its business license and disband an institution in the financial services sector. Legal protection for customers as a result of illegal investments in the form of cooperatives is by returning customer funds using household budget funds or articles of association, in the case of time deposits with interest rates according to the contents of the agreement made by the cooperative with customer members.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Heri Kristianto
AU  - Sanyoto
AU  - Weda Kupita
PY  - 2023
DA  - 2023/12/21
TI  - The Role of the OJK (Financial Services Authority) in Preventing Illegal Investment Activities in Legal Entities in the Form of Cooperatives
BT  - Proceedings of the 3rd International Conference on Law, Governance, and Social Justice (ICoLGaS 2023)
PB  - Atlantis Press
SP  - 355
EP  - 364
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-164-7_33
DO  - 10.2991/978-2-38476-164-7_33
ID  - Kristianto2023
ER  -