UBELAJ, Volume 3 Number 1, April 2018 | 41

THE ROLES OF OTORITAS JASA KEUANGAN TO OVERCOME FICTIVE INVESTMENT BENGKULU CITY

Herawan Sauni1 Dimas Dwi Arso2 Faculty of Bengkulu University 1Email : [email protected] 2Email : [email protected]

ABSTRACT

This research is purpose to know the role of Otoritas Jasa Keuangan in overcome fictitious investment in Bengkulu city and To know the efforts of Otoritas Jasa Keuangan to protect the consumers that take fictitious investment in Bengkulu city. This research uses empirical approach, that is research in the place by using interviews to get answers about the role of Otoritas Jasa Keuangan to overcome fictitious investment in Bengkulu city and the efforts of Otoritas Jasa Keuangan to protect consumers that has done fictitious investment in Bengkulu City. This research uses two types of data,that is primary data and secondary data. Then, its data to be analyzed in a research report that is qualitative descriptive. The results of the research is the role of Otoritas Jasa Keuangan to overcome fictitious investment in Bengkulu City that is preventive and repressive efforts. The preventive efforts for example to socializing and educating people to alert investment and coordinating with law enforcers and other regulators. The repressive efforts, for example set up an Alert Investment task force in every area. Then the efforts of Otoritas Jasa Keuangan to protect consumers that have fictitious investment in Bengkulu City is regulated in POJK Number 1 / POJK.07 / 2013 about Perlindungan Konsumen Sektor Jasa Keuangan.

Keyword :OJK, Fictive Investment, Protection.

Introduction not certain. Such an assumption may arise At the time, the citizen seems to be because of the risks to be faced when competing in investing, but not all investing. Few people dare to invest if they institutions that raise funds from the citizen see a big risk in investing. It is natural to can be trusted as a place to safe invest. As it have by everyone. because they feel they is known that investment is an activity have been collecting money with difficulty undertaken in depositing or incorporating just to give to something risky. funds or money and capital to expect the Investment risks that need to be benefits gained. attention are fraud, embezzlement, to There are some people who argue that fictitious investments. When the investment investing means wasting money or capital is is criminal-related, the risk is to lose all UBELAJ, Volume 3 Number 1, April 2018 | 42 investment funds. Realizing that investment Research Methodology is good but also risky, people are required to This research is descriptive analysis. A better understand investment products. descriptive study is intended to provide as As for the reasons of someone in much data as possible about humans, making an investment that is getting a profit, circumstances or other symptoms. future needs, business needs, as a source of In this research will illustrate and analyze income, needs old time that safe, and the role of Otoritas Jasa Keuangan overcome investment is also easy to do. fictive investment in Bengkulu city and the Related to the rise of suspected efforts of Otoritas Jasa Keuangan in fictitious investments in Indonesian territory, protecting consumers who have made fictive including Bengkulu, could result in many investments in Bengkulu City. This research losses to the community. Lately, people in uses an empirical approach, which is done by the city of Bengkulu many who invest in an conducting research in the field by using institution called D4F (Dream for Freedom). direct interviews to obtain answers about the As known, Monday (6/6) as many as 116 role of Otoritas Jasa Keuangan overcome residents report to the Police Bengkulu fictive investment in the city of Bengkulu because they feel they have become victims and the efforts of Otoritas Jasa Keuangan in of this D4F. From the 116 victims report, protecting consumers who have made fictive estimated total loss reached Rp 1.8 billion. investments in the city of Bengkulu Therefore, it needs to be analyzed about the existence of Otoritas Jasa Keuangan Results and Analysis institution established based on Law Number People are often easily tempted by the 21 Year 2011 in conducting supervision and lure of investments that promise profits in a regulation on financial service institutions short time, but investment is one type of a especially institutions that collect funds from lucky agreement. A lucky agreement means the public in the field of investment. that people who make investments definitely How is the role of Otoritas Jasa do not earn a profit, but sometimes they also Keuangan in overcome fictive investment in get a loss. Bengkulu City? And How is the effort Seen from the juridical, then a lucky Otoritas Jasa Keuangan to protect consumers agreement such as investment should refer to who have made fictive investments in the provisions contained in III Burgelijk Bengkulu City? Wetboek (BW) book on the engagement. Because, there is a commitment that comes from the agreement and from the Act. UBELAJ, Volume 3 Number 1, April 2018 | 43

It remains to be remembered in our minds and supervisory powers. The functions, that not only is fictive investment a duties and authority of arrangement and disservice to society, but there is also an supervision shall be conducted by the Board umroh travel agency, First Travel which of Commissioners through clear division of promises people that they will be able go tasks for the achievement of the objectives umroh only by paying a very low cost Otoritas Jasa Keuangan. The duties of compared to other umroh travel agencies. As members of the Board of Commissioners a result of this action, more than a thousand include the areas of duties related to the code people feel frauded because their of ethics, internal control through audit board expectations for umroh are not being realized mechanisms, education and consumer while the money that has been paid to the protection, as well as functions, duties and Umrah travel agency is not returned. supervisory powers for the sectors of Therefore, it is important to examine and Banking, Capital Market, Insurance, Pension analyze the roles of Otoritas Jasa Keuangan Funds, Financing Institutions and Financial (OJK) overcome investment in Bengkulu and Services Institutions Others OJK's efforts in protecting consumers who Based on the authors' interviews with have made fictive investments in Bengkulu. representatives of OJK of Bengkulu Province With the existence of OJK, it is expected namely the field of education and consumer to support the interests of the national protection, that in the investment does not financial services sector so as to improve recognize the term fictive investment but national competitiveness. In addition, OJK illegal investment. Therefore, business must also be able to safeguard the national entities that receive contributions from the interest such as : among others, human community are not fictitious business resources, management, control and entities, but illegal business entities. ownership in the financial services sector, Business entities are said to be illegal, while taking into account the positive aspects because they have not obtained official of globalization. Otoritas Jasa Keuangan is permission from OJK and other authorities. established and based on sound governance If this entity is left without any action, then principles, which include independence, public trust to a business entity that moves accountability, transparency and fairness. by receiving contributions from the public Otoritas Jasa Keuangan must have a will be reduced and can disrupt financial structure with the principles of "checks and stability. balances". This is manifested by a clear The role of OJK overcome this illegal separation of functions, tasks, and regulatory investment is not mentioned explicitly in UBELAJ, Volume 3 Number 1, April 2018 | 44

Law No. 21 Year 2011. When considered, the public against potential losses resulting contained in the OJK Law only regulates the from public fund raising and investment protection of consumers and the public when management by irresponsible parties, it is harmed by financial institutions, in which necessary to prevent and handle alleged case OJK only take action when a complaint unlawful actions in the field of fund raising from disadvantaged citizen. Though the and investment management in a coordinated problem of illegal investment is very way and integrated by the Ministries / detrimental to consumers, so OJK must act Agencies and / or other relevant agencies. decisively The main tasks of the Investment Alert Task Parties that offer illegal investments are Force are: mostly non-financial institutions so they are a. Education and socialization to the community not registered and overseen by OJK. OJK b. Improve case handling coordination participates against illegal investment offer c. Inventory cases of alleged illegal investments that have the potential to that harm society through effort: harm the community 1. Preventive: socialize and educate d. Analyze cases, and identify authorized investment alert and coordinate with law agencies to handle them enforcers and other regulators. e. Conduct a joint examination and 2. Repressive: facilitation of dispute follow-up to stop the case settlement, cessation and other activities, f. Stopping or blocking the rampant case establishing Alternative Dispute The work program of the SWI is covering Settlement Institutions (LAPS), and prevention and treatment programs. establishing Investment Alert Task Force in all regions. Prevention programs include education and The Investment Alert Task Force (SWI) monitoring of potential illegal investments, was established based on the Decree of the while handling programs include: Board of Commissioners of OJK Number 01 a. Call Center (1500655) and email Task / KDK.01 / 2017 dated January 1, 2017 on Force Investment ([email protected]) the Establishment of Task Force on the b. Coordination between institutions Suspect of Legal Action in the Field of incorporated in the Task Force Investments Community Funds and Investment c. Joint examination to obtain data or Management which consist of OJK, RI, information directly to the parties suspected of illegal investment Ministry of Trade, Ministry of activities Communication and Informatics, Ministry of d. Periodic coordination meetings every 2 (two) months and / or incidental Communication and Informatics, and e. Prepare recommendations for handling BKPM. illegal investments by law enforcement. The purpose of the Investigation Task

Force is to raise awareness and protection to UBELAJ, Volume 3 Number 1, April 2018 | 45

SWI is authorized to handle illegal The things that have been done to watch investment cases. Communities who are the investment task force are: victims of this illegal investment can report a. On September 22, 2016, Task Force Investment has held a discussion to the SWI, so that it can then be followed up meeting with the Board of Directors of with legal process. Nationally, there are PT Compact Sejahtera Group related to the legality of business activities. some business entities that do not have b. On November 10, 2016, pursuant to the permission from OJK and other authorities result of the meeting of September 22, 2016, PT Compact Sejahtera Group has but receive funds from the public. Whereas a submitted a statement stating that it has permit is a fundamental instrument for suspended all its activities because it is not in accordance with the permit held. establishing a business entity, even more so Currently PT Compact Sejahtera Group when its business is based on community has become Koperasi Bintang Abadi Sejahtera. contributions.

Here is the data of recapitulation of 2. PT Inti Benua . complaint handling and / or 2016 question: This business entity is led by Pablo Putera a. Number of complaints: 210 Continent. BMP. SH, with the address of b. Number of complaints perentitas: 121 c. Number of complaints followed: 31 Jalan M. Yusuf Raya I. Kav. 38A. d. Number of complaints (entering legal Sukmajaya, Depok, West . The process): 4 The business entities are declared as illegal operating mode is: investment business entity namely: a. Prospective customers who want to own a vehicle must first pay an 1. PT Compact Sejahtera Group, Compact administrative fee (for a car of Rp 500 or Bintang Abadi Sejahtera 5,000,000 and for motorcycles of Rp Cooperative or ILC. 750,000), then fill out the unit order This business entity is led by Anton form and the completeness of personal Setiawan, with the address of Cicadas data. b. Then the prospective customer, must Highway, RT / RW: 001/003, Cicadas, pay a deposit of 54% of the price of the Gunung Putri, Kab. , . desired vehicle OTR and signed the contract HGP IBIS. Operating mode is: c. Each year must pay a deposit (for cars a. Payments are on time and "No Zonk". of 10% and for the motor of 15% the b. Owner is clear and always work for the maximum period of time given once a continuity of the system. three-year contract. c. Can not Hit and Run. d. At the end of the contract for three d. "Profit Help" earns 25% per month and years, the car is refunded and the sponsorship bonus of 5%. deposit funds are returned but deducted e. Have a cash reserve fund dibank. 10%. However, for motorcycles, f. It's been over a year. motorcycles are returned and deposit g. Paying the initial investment package funds are refunded but cut 15% or ranges from Rp.500.000, - s / d become proprietary by increasing the Rp.100.000.000, - cost of 15%. UBELAJ, Volume 3 Number 1, April 2018 | 46

Authority, Bappebti, Bapepam-LK, The things that have been done are alert and Investment Coordinating Board (BKPM) without permission. In investment task force, namely: addition, mentioned that PT Inlife a. On October 5, 2016, Task Force Indonesia obtained the operating Investments invited PT Inti Benua license from Bapepam-LK. Indonesia to explain the products and business processes of PT Inti Benua The things that have been done to watch Indonesia. However, the directors of the investment task force are: PT Inti Benua Indonesia were not present. a. On November 29, 2016, Task Force b. On October 31, 2016, Task Force Investment invited Board of Directors Investments has invited again and the meeting of PT Inlife Indonesia to be directors of PT Inti Benua Indonesia able to clarify related to the legality of are not present. business activity. However, the c. Activities undertaken by PT Inti Benua Directors of PT Inlife Indonesia did not Indonesia are activities that resemble attend the meeting. those of a financing institution so that a b. Based on information obtained by Task permit is required to perform such Force Investments, PT Inlife Indonesia activities. is not registered in OJK, Bappebti or BKPM.

3. PT Inlife Indonesia 4. Bermuda Triangle Cooperative / This business entity is headed by Wahyu Profitwin77. This business entity is led by H. Syamsul Kusumo Aribowo, having its address at Jl Umar who is located at Ruko Citraland, Mega Kuningan Lot 5.1, Rajawali Tower, Block L / 22, Gowa, South . The East Kuningan, Setia Budi South . operating mode is: The operating mode is: a. ProfitWin77 is part of Gilang a. Inlife Investment is an investment Gemilang Group (GGG) based in program with a minimum capital of Makassar. GGG business consists of: Rp.1.000.000, - within a period of Triangle Cooperative bermuda, seven days with a commission of 15- Profitwin77, and shopping 77. 25%, received every seven days by b. Registration fee Rp. 150.000, -. 15% plus initial fund and will be c. New members are required to purchase directly transferred to customer's an investment package of at least US $ account. Thus, the total fund to be 100, the larger the bonus investment received within a period of seven days package the more seirng given (every is Rp.1.150.000, -. day until every 10 days). b. InLife's Investment Profit manages d. Passive members will benefit 2% (two funds in three business areas: Stocks, percent) per day for 100 calendar days. Mutual Funds, Bonds and Money e. Active members will earn daily Market (in cooperation with several bonuses and sponsor bonuses when foreign companies), Housing, recruiting new members. Commercial and Land Kavlingan, f. The processing of investment funds Precious Metals, Forex, Exports and comes from members. Imports. Things that have been done alert c. PT Inlife Indonesia on its website has included logo, Financial Services watchgirl investment On September 29, UBELAJ, Volume 3 Number 1, April 2018 | 47

2016, Task Force Investments has invited the a. On December 27, 2016, Task Force Investment has invited the Board of Bermuda Triangle Cooperative meeting to be Directors of PT Cipta Multi Business able to clarify the legality of business Group to explain the legality and business activities undertaken. In the activities cooperatives. However, the board meeting, the Director and of the Bermuda Triangle Cooperative was Commissioner of PT Cipta Multi BusinessGroup explained the business not present at the meeting's invitation. process and legality of the company to 5. PT Cipta Multi Business Group the Investigation Task Force. b. Based on the 27 December 2016 This business entity is headed by Fitriyani meeting, the Director and Commissioner of PT Cipta Multi as a director and Akh. Turmidi as Bisnis Group made a statement stating commissioner having address at Jalan Raya that: c. Stopping all community fundraising Ancol RT / RW: 006/002, Ex. Sukamanah, activities and not recruiting members Sindangkasih Sub-district, Ciamis Regency, again starting December 27, 2016 because they do not have permission in West Java. Its business activities are Supplier accordance with applicable and of toll road construction materials, apartment regulations. d. Ask all people to be able to know this financing, remittances, and financing of statement and be careful when there is vehicle sales and has collected 1,700 (one a similar offer on behalf of PT Cipta Multi Business Group that raise funds. thousand seven hundred) investors. The e. Returns all funds collected from PT amount of funds collected amounted to more Cipta Multi Bisnis Group investors no later than 28 February 2017. than Rp850.000.000. Of the above members, f. In the event that PT Cipta Multi Bisnis about 400 investors have finished their Group conducts public fundraising activities before obtaining permission investment contract period with PT Cipta from the competent authority, Fitriyani Multi Bisnis Group. The Operating Mode is: and Turmidi are willing to be prosecuted by law enforcement officers a. Profit sharing of 30% of the initial

capital per month to investors with the 6. UN . following conditions:

b. Capital minimum Rp500.000; UN Swissindo is a world organization and c. Contract for 6 months; and d. The initial capital is fully returned to Consortium Internationally Swissindo World investors in the seventh month. Trust International Orbit (12 Selection e. The referral bonus of 4% for every first, second, third, and so on. Organization). The world representative Specifically for investments above office in country (Laos P.D.R) and Rp100.000.000 will receive fee2% and above Rp500.000.000 will receive chaired by Chairman. Sino fee1%. Soegihartonotonegoro, St-Mi. As one of the

The things that have been done are alert world's institutions claiming to have waived investment task force, namely: its financial rights at and 6 UBELAJ, Volume 3 Number 1, April 2018 | 48

(six) Prime Bank (BCA, Bank Mandiri, BRI, receive / know about similar information to immediately report to BNI, Lippo Group / CIMB and Bank the nearest law enforcement apparatus. Danamon) for $ 6.1 T to free people debts 5) Clarification and checks have been made at 6 (six) Prime Banks, there is Indonesia since February 4, 2016. The no SBI fund of USD 6.1 claimed by operating mode is: Swissindo to repay the debt of Indonesian people a. UN Swissindo has declared and report b. To the investigator: have certificate of release of debt for 1) Against Certificate of Bank Indonesia and to TNI-POLRI and all Indonesian Certificate (SBI) to be Scientific people; Identification to Forensic Laboratory b. UN Swissindo World trust of Criminal Investigation Police to International Orbit as the holder of know original / not Certificate. Bank Indonesia Certificate (SBI) 2) Requested information from BI Account Owner at 6 Prime Bank Governor Darmin Nasution and OJK SKRBINo: 0126-BISKR / XI / 2012 Commissioner Chairman Muliaman dated November 1, 2012 and SKR / Dhadad to ascertain whether ever IDR00013 dated March 3, 2012 signed the certificate. approved by the International 3) To facilitate Asset Tracing on the Association of British Royal Families results of the investigation so that Control No. 01302014-CO300 dated investigators apply the TPPU (money 31 January 2014; laundering crime). c. That with the certificate for all

Indonesian people using rupiah If in Bengkulu, a very public-purpose case currency in the banking system (BCA, BRI, BNI, Mandiri, Danamon, is about investments made by D4F (Dream Lippobank, CIMB Niaga and all leases For Freedom) under the leadership of Fili are exempt from all debt burden since it has been paid by UN Swissindo; Muttagien. Quoted from the daily Rakyat d. Requirements to become a member of Bengkulu, losses reached 3 bln rupiah, which UN SWISSINDO is a society that has Debt / Receivable at PT.FINANCE by is the biggest loss in the city of Bengkulu. providing Photo Copy of ID card, 3x4 OJK has also clarified that D4F is an entity Color Photo Pass (1 sheet) and Cash Rp.200.000,00. that is not registered in OJK and not under Anticipatory steps taken by OJK are: the supervision of OJK to conduct a. Socialize to all community, financial service and finance company such as: investment activities in Indonesia. This 1) The certificate originated means that since its establishment, the D4F fromUNSWISSINDO is Fake. 2) BI Governor DARMIN has not obtained any license from OJK to NASUTION never signed SBI receive funds from the public in the form of Certificate dated June 26, 2012 with value Rp.4.500.000.000.000.000,00 investment. Therefore, then OJK Bengkulu (four thousand five hundred Province often socialize to the public to be trillion). 3) BI never receives money from UN more careful to invest their funds. SWISSINDO. The main characteristic of fraud under the 4) If the public, the Financial Services and Finance Companies guise of investment is the absence of legal UBELAJ, Volume 3 Number 1, April 2018 | 49 licensing documents from government OJK Bengkulu Province then conduct an agencies, regulators / supervisors related to evaluation, whether it is related to the duty of financial services and investment, although it prevention and with the task of handling. has the documents deed of incorporation Assessment indicators related to prevention with the legality of business in the form of tasks are the amount of community trading business license and sign the list of involvement in illegal investments declining, companies. Whereas the Government increasing public awareness of legal and Regulation clearly stipulates that companies illegal investments, and referring to the are prohibited from using SIUP to conduct results of a survey of educational practices in activities to raise public funds by offering an the rampant areas of illegal investment. unreasonable profit pledge. While the assessment indicators related to There are several articles in the Criminal the task of handling that is based on the Code which may entrap the perpetrators of existence of reports of violations of illegal inves- tigations, for example in regulations found by each member Task relation to embezzlement under Article 372 Force Investments to law enforcement. of the Criminal Code with a maximum With the establishment of the Investment imprisonment of 5 years and fraud stipulated Alert Task Force and the Local Government in Article 378 of the Criminal Code for 4 Investigation Task Team, the prevention and years. Then in Article 46 paragraph (1) of handling of alleged unlawful actions in the Law Number 10 Year 1998 regarding the field of public fund raising and investment Amendment of Act No. 7 of 1992 management can be effectively implemented concerning Banking stating that the in order to provide protection to consumers collection of public funds in the form of of the financial services sector and increase deposits without business license from OJK public confidence in the financial industry. shall be subject to 5 years imprisonment and The rise of illegal investment makes most 15 years old and a fine of at least Rp 10 consumers wary when transferring their billion and a maximum of Rp 20 billion. In funds to invest, because consumers need to fact, if undertaking capital market activities be more careful to see what kind of business without OJK license, then based on Article entities that lola their investment funds. 103 (1) Law Number 8 of 1985 concerning Often, Business Entities promise high Capital Market shall be subject to a 5 year interest or returns to consumers when old long-term penalty crime and dendapaling investing in their business entities. of Rp 5 billion. Therefore, consumers should be suspicious if investment products that promise interest or UBELAJ, Volume 3 Number 1, April 2018 | 50 high yield. Then, the consumer must be remain in compliance with prevailing smart and conscientious about the permit on beacons. When referring to the OJK Law, the the business entity, whether there has been a protection of consumers and the public is permit issued by the Financial Services regulated in Chapter VI Articles 28 - 31. Authority or other authority. Article 28 reads for the protection of Consumers sometimes do not notice that Consumers and the public, OJK is authorized the company that sells the investment to undertake Consumer and Community products in secret or non-transparent, the harm prevention measures, which include: truth or validity of the offered investment a. provide information and education to the public on the characteristics of the products, the interest or yield of the offered financial services sector, services and products with interest offered by the bank or products; b. ask the Financial Services Institution to the capital market, whether or not the cease its activities if such activities market. Therefore, the government has have the potential to harm the public; and provided a variety of ways to secure c. other actions deemed necessary in investment for consumers, although accordance with the provisions of the laws and regulations in the financial investment often also contains risks. For services sector. investment in real sector, can be through Article 29 reads OJK conducting direct investment scheme, profit sharing, Consumer complaints services which franchise, and joint venture. For investment include: in financial markets, can be through banking, a. prepare adequate equipment for Customer complaints services harmed insurance, or capital markets. With by actors at the Financial Services investments in banks or non-bank financial Institution; b. making the complaints mechanism of institutions, the funds of customers or the Customer harmed by the communities invested are more protected perpetrator of the Financial Services Institution; and because: c. facilitate the settlement of complaints Banks and non-bank financial institutions Consumers harmed by actors in Financial Services Institutions in are established and operate on the permission accordance with the laws and of the regulator and the government. regulations in the financial services sector. In its operations, banks and nonbank financial institutions always adhere to Article 30 paragraph (1) reads for the applicable laws or regulations. Regulators protection of Consumers and the public, OJK and governments always oversee the is authorized to conduct legal defense, which operations of banks and non-bank financial includes: institutions that ensure their operations UBELAJ, Volume 3 Number 1, April 2018 | 51

a. order or perform certain actions to the community, then OJK also established the Financial Services Institution to Working Team of Local Investment Task resolve complaints of the Customer harmed by the said Financial Services Force. Institution; OJK has the main duty of arranging and b. filed suit: 1. to recover the property of the conducting activities in the field of disadvantaged party from the party education, and consumer protection, causing the loss, whether it is under the control of the party causing the including developing policies and programs loss in question or under the control to encourage financial inclusion, complaint of the other party in bad faith; and / or services, settlement of financial disputes, 2. to obtain indemnification from the legal defense and consumer protection by party causing loss to the Consumer and / or Financial Services promoting the principles of efficiency and Institution as a result of violation of effectiveness, fairness and independence, and the laws and regulations in the financial services sector. encourage accessibility of services.

Education and consumer protection is an Article 30 paragraph (2) Indemnification effort to increase understanding of society as referred to paragraph (1) letter b number 2 and consumers about the various institutions, shall only be used for the payment of products and financial services that aims to compensation to the injured party. The OJK improve access, use and trust of society and Law Article 31 mandates that OJK need to consumers to institutions and financial enact the OJK Regulation concerning services products in Indonesia in order to Consumer Protection of Financial Services improve the welfare of the community. The Sector. For this reason, OJK then issues the importance of consumer protection efforts as Regulation of Otoritas Jasa Keuangan it is a fundamental requirement in addressing Number 1 / POJK.07 / 2013 about the globalization of financial systems and the Perlindungan Konsumen Sektor Jasa rapid advancement of information Keuangan.. To improve consumer protection technology, which creates the complexity of and public trust to the financial industry, financial products and / or services, so OJK needs to take preventive, curative or consumers should: repressive actions through the formation of 1. Understand the benefits, costs, and the Investment Alert Task Force. risks of the product and / or financial Unlicensed public fund raising activities services. 2. Understand products and / or services are happening in the regions and need to be to avoid fraud, misuse and optimized and efficient and quick response to irregularities. 3. Understand the rights and obligations complaints and / or reporting from the 4. Reducing potential disputes UBELAJ, Volume 3 Number 1, April 2018 | 52

5. Know where to go and what to do in indicating a dispute between the business case of dispute. actors of financial services with the

For the curative role of OJK, OJK Act has consumer to the financial services authority. also been accommodating for it. Because the Therefore, OJK then appoints the facilitator OJK is given the role of legal defense to the to carry out the complaint resolution consumer by filing a lawsuit to recover the function. property of the disadvantaged party from the POJK No. 1 of 2013 also regulates the party causing the loss, either under the sanctions. In Article 53, Sanctions for control of the party causing the intended loss business actors of financial services and / or or under the control of the other party in bad parties violating the provisions in the faith. Therefore, it is hoped that OJK can Regulation of the Financial Services conduct legal defense so that consumer's Authority shall be liable to administrative money can be returned sanctions in the form of: In Article 22 of the Financial Services a. Written warning; b. The penalty is the obligation to pay a Authority Regulation Number 1 / POJK.07 / certain amount of money; 2013 concerning Consumer Protection of the c. Restrictions on business activities; d. Suspension of business; and Financial Services Sector shall be regulated e. Revocation of business activity permit. concerning the standard agreement between Therefore, a business entity proven to the financial services and consumer business conduct business in the field of illegal actors. However, the default agreement is investment may be subject to sanctions by prohibited if there is an exoneration clause. OJK, even the head of the business entity The prohibited exoneration clause shall mean may also be subject to criminal sanctions declaring the transfer of responsibility or Conclusion liability of the financial services business Based on the results of research actor to the consumer and stating that the conducted by the author with the title "The Financial Services Businesses shall be Role of Otoritas Jasa Keuangan Overcome entitled to refuse refunds paid by the Fictive Investment In Bengkulu City", it can Consumer on purchased products and / or be concluded that The role of Otoritas Jasa services. Keuangan overcome fictive investments in Consumer complaints constitute a the city of Bengkulu such as preventive and fundamental instrument in law enforcement repressive efforts. Preventive measures such in the field of illegal investment. Based on as socializing and educating investment alert Article 40 paragraph (1), POJK No. 1 Year and coordinating with law enforcers and 2013, the consumer may submit a complaint UBELAJ, Volume 3 Number 1, April 2018 | 53 other regulators. Then repressive efforts, Kurniawan. (2011) Hukum Perlindungan Konsumen. Malang : UB Press. such as forming the Investment Alert Task

Force in all regions. Nindyo Pramono. (2013) Hukum PT Go Public dan Pasar Modal. : Efforts of Otoritas Jasa Keuangan to Andi. protect consumers who have made fictive Ridwan Khairandy. (2010). Hukum Pasar investments in Bengkulu City are regulated Modal. Yogyakarta : FH UII Press. in the Financial Services Authority Satuan tugas penanganan dugaan tindakan Regulation No. 1 / POJK.07 / 2013 on melawan hukum di bidang Consumer Protection of the Financial penghimpunan dana masyarakat dan pengelolaan investasi, Meningkatkan Services Sector. The regulation stipulates peran dan partisipasi publik dalam that OJK has appointed facilitator to perform mencegah investasi ilegal,Bahan Seminar, 28 Februari 2017, Bengkulu. complaint settlement function from Sentosa Sembiring. (2012). Hukum consumer, so that complaints from Perbankan, : Mandar Maju. consumers can be followed up by Surjono Soekanto. (1986). Pengantar sanctioning a business entity proven to Penelitian Hukum. Jakarta : UI Press. conduct business in the field of illegal Zaeni Asyhadie. (2005). Hukum Bisnis. investment. Jakarta : Grafindo Persada. As for suggestions that can be given by www.harianrakyatbengkulu.com the author, the OJK is expected to conduct legal defense to protect consumers in the form of filing a lawsuit to recover property owned by the injured party from the party causing the loss, either under the control of the party causing the intended losses or under the mastery of others in bad faith.

Bibliography

Bambang Murdadi. (2012) Otoritas Jasa Keuangan (OJK) Pengawas Lembaga Keuangan Baru yang Memiliki Kewenangan Penyidikan. : Universitas .

Iswi Hariyanti dan R. Serfianto. (2010) Buku Pintar Hukum Bisnis Pasar Modal. Jakarta : Visimedia.