The Financial Services Authority (OJK) has emphasized that illegal financial activities, which are increasingly causing public concern, face the threat of severe penalties, including imprisonment of up to 10 years and a maximum fine of IDR 1 trillion.
"This is no longer a trivial matter. Illegal financial activity is now a serious criminal offense. Previously, what was called the crazy rich... could get away with light sentences, but not anymore," said Friderica Widyasari Dewi, Chief Executive of the Financial Services Authority (OJK), for Supervision of Business Conduct, Education, and Consumer Protection, at the launch of the Global Anti-Scam Alliance (GASA) Indonesia Chapter.
Friderica explained that the threat of severe punishment is in accordance with the mandate of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK).
