Sanctions in Financial Services: Developing a Conducive Culture in Financial Industry in Indonesia
DOI:
https://doi.org/10.21512/humaniora.v13i1.7309Keywords:
financial services, financial services authority, financial industries, criminal sanctionAbstract
The research proposed adjustments to sanctions for criminal acts in the financial services industry in accordance with Law No. 21/2011. Based on the Law of the Republic of Indonesia No. 21/2011, the Indonesian Financial Services Authority (FSA) had the authority to regulate the financial industry in Indonesia. FSA had enormous capacity, including the authority to impose criminal sanctions in the financial services industry. However, criminals in the financial sector still recurred after establishing the OJK. One of financial services industry crimes began with Bank Indonesia Liquidity Assistance due to the 1998 Asian crisis, and the crisis due to the COVID-19 pandemic had resulted in several criminal acts in the financial industry such as the Bank Bukopin case and several cases of insurance companies such as Jiwasraya insurance. The research applied a normative juridical method. It concludes that criminal sanctions in the financial services industry can be imposed on individuals and/or corporations. This criminal sanction is imposed if someone deliberately ignores, does not fulfill, or hinders the exercise of the FSA's authority or deliberately ignores and/or does not carry out the FSA's written orders. A person's definition needs to be clarified in his/her position at a financial service institution to be subject to a criminal offense.
Plum Analytics
References
Alfi, A. N., & Sitorus, R. (2020). Bosowa gugat OJK dan Kookmin bank petitumnya perbuatan melawan hukum. Retrieved from https://finansial.bisnis.com/read/20201127/90/1323509/bosowa-gugat-ojk-dan-kookmin-bank-petitumnya-perbuatan-melawan-hukum.
Arieza, U. (2020). Duit ‘nyangkut’ di Bukopin dan aksi penyelematan Kookmin bank. Retrieved from https://www.cnnindonesia.com/ekonomi/20200701081544-78-519340/duit-nyangkut-di-bukopin-dan-aksi-penyelamatan-kookmin-bank.
Brannan, M. J. (2017). Power, corruption and lies: Mis-selling and the production of culture in financial services. Human Relations, 70(6), 641-667. https://doi.org/10.1177/0018726716673441.
Detik.com (2021). Abaikan perintah OJK berujung status tersangka untuk Sadikin Aksa. Retrieved from https://news.detik.com/berita/d-5490254/abaikan-perintah-ojk-berujung-status-tersangka-untuk-sadikin-aksa.
Diba, N. F., Disemadi, H. S., & Prananingtyas, P. (2019). Kebijakan tata kelola Otoritas Jasa Keuangan (OJK) di Indonesia. Ekspose: Jurnal Penelitian Hukum dan Pendidikan, 18(2), 868-876. https://doi.org/10.30863/ekspose.v18i2.485.
Gatra, S. (2018). Koruptor Samadikun Hartono bayar Rp. 87 milliar ke negara begini penampakan. Retrieved from https://nasional.kompas.com/read/2018/05/18/10381051/koruptor-samadikun-hartono-bayar-rp-87-miliar-ke-negara-begini-penampakan?page=all.
Harahap, N. (2019). Kewenangan dan ruang lingkup Otoritas Jasa Keuangan di bidang perbankan. Jurnal Hukum Kaidah: Media Komunikasi dan Informasi Hukum dan Masyarakat, 19(1), 40-49. https://doi.org/10.30743/jhk.v19i1.1743.
Hariyanto, I. (2019). KPK tetapkan Sjamsul Nursalim dan Itjih tersangka kasus BLBI sebagai DPO. Retrieved from https://news.detik.com/berita/d-4728280/kpk-tetapkan-sjamsul-nursalim-dan-itjih-tersangka-kasus-blbi-sebagai-dpo.
Humaidi, A. (2017). Problematika wewenang pengawasan perbankan dari Bank Indonesia ke Otoritas Jasa Keuangan. Legalitas Jurnal Penelitian Hukum, 10(2), 53-66. http://dx.doi.org/10.31479/jphl.v10i2.99.
Johan, S., & Ariawan, A. (2021). Keterbukaan informasi UU pasar modal menciptakan asymmetric information dan semi strong form. Masalah-Masalah Hukum, 50(1), 106-118. https://doi.org/10.14710/mmh.50.1.2021.106-118.
Kartiko, G. (2016). Analisis terhadap koordinasi Otoritas Jasa Keuangan dengan lembaga lainnya dalam pengawasan perbankan berdasarkan Undang Undang nomor 21 tahun 2011 tentang Otoritas Jasa Keuangan. Jurnal Panorama Hukum, 2(1), 33-52.
Manullang, H., & Pasaribu, R. Y. (1981). Pertanggungjawaban pidana korporasi. Medan: LPPMUHN Press Universitas HKBP Nommensen.
Mukaromah, V. F. (2020). Djoko Tjandra ditangkap, ini kilas balik awal kasus-kasus Bank Bali. Retrieved from https://www.kompas.com/tren/read/2020/07/31/181500265/djoko-tjandra-ditangkap-ini-kilas-balik-awal-kasus-bank-bali-?page=all.
Murray, N., Manrai, A. K., & Manrai, L. A. (2017). The financial services industry and society. Journal of Economics, Finance, and Administrative Science, 22(43), 168-190. https://doi.org/10.1108/JEFAS-02-2017-0027.
Pikahulan, R. M. (2020). Implementasi fungsi pengaturan serta pengawasan pada Bank Indonesia dan Otoritas Jasa Keuangan (OJK) terhadap perbankan. Jurnal Penegakan Hukum Dan Keadilan, 1(1), 41-51. https://doi.org/10.18196/jphk.1103.
Puspitasari, I., & Devintawati, E. (2018). Urgensi pengaturan kejahatan korporasi dalam pertanggungjawaban tindak pidana korporasi menurut RKHUP. Kanun: Jurnal Ilmu Hukum, 20(2), 237-254. https://doi.org/10.24815/kanun.v20i2.10661.
Puteri, R. P., Junaidi, M., & Arifin, Z. (2020). Reorientasi sanksi pidana dalam pertanggungjawaban korporasi di Indonesia. Jurnal USM Law Review, 3(1), 98-111. http://dx.doi.org/10.26623/julr.v3i1.2283.
Republic of Indonesia. (2007). Law of the Republic of Indonesia number 40 of 2007 on the limited liability companies. Jakarta: Sekretariat Negara.
Republic of Indonesia. (2014). Law of the Republic of Indonesia number 21 of 2011 on the financial services authority. Jakarta: Sekretariat Negara.
Republic of Indonesia. (2014). Law of the Republic of Indonesia number 20 of 2014 on the standardization and conformity assessment. Jakarta: Sekretariat Negara.
Ridho, R. (2020). Mantan terpidana kasus suap Bank Banten kembali ditangkap. Retrieved from https://regional.kompas.com/read/2020/07/24/06274091/mantan-terpidana-kasus-suap-bank-banten-kembali-ditangkap.
Ryder, N. (2018). ‘Too scared to prosecute and too scared to jail?’ A critical and comparative analysis of enforcement of financial crime legislation against corporations in the USA and the UK. The Journal of Criminal Law, 82(3), 245-263. https://doi.org/10.1177/0022018318773209.
Sanjaya, B., Muladi, M., & Sari, R. K. (2020). Inkonsistensi pertanggungjawaban pidana korporasi dalam peraturan perundang-undangan di luar KUHP. Pandecta: Jurnal Penelitian Ilmu Hukum (Research Law Journal), 15(2), 218-227. https://doi.org/10.15294/pandecta.v15i2.23013.
Song, C., & Han, S. H. (2017). Stock market reaction to corporate crime: Evidence from South Korea. Journal of Business Ethics, 143(2), 323-351. https://doi.org/10.1007/s10551-015-2717-y.
Sudariyanto, M. A. (2018). Pertanggungjawaban pidana korporasi dalam bidang perindustrian. Mimbar Keadilan Jurnal Ilmu Hukum, 11(1), 127-143. https://doi.org/10.30996/mk.v0i0.
Suhariyanto, B. (2018). Penerapan pidana uang pengganti kepada korporasi dalam perkara korupsi demi pemulihan kerugian keuangan negara. Jurnal Rechts Vinding: Media Pembinaan Hukum Nasional, 7(1), 113-130. https://doi.org/10.33331/rechtsvinding.v7i1.213.
Sularman, A., & Ma’ruf, U. (2017). Pertanggungjawaban pidana korporasi kepada korban tindak pidana. Jurnal Hukum Khaira Ummah, 12(2), 387-396.
Tempo.Co (2019) Jadi tersangka kasus BLBI ini gurita bisnis Sjamsul Nusalim. Retrieved from https://bisnis.tempo.co/read/1213575/jadi-tersangka-kasus-blbi-ini-gurita-bisnis-sjamsul-nursalim.
Wardana, I. G. A. A. K., Westra, I. K., & Purwanti, N. P. (2017). Pembentukan lembaga Otoritas Jasa Keuangan terhadap kedudukan sistem pengawasan perbankan di Indonesia. Kertha Wicara, 6(1), 1-10.
Yustianti, S. (2017). Kewenangan pengaturan dan pengawasan perbankan oleh Bank Indonesia dan Otoritas Jasa Keuangan (OJK). Acta Diurnal Jurnal Ilmu Hukum Kenotariatan dan Ke-PPAT-An, 1(1), 60-72. https://doi.org/10.24198/acta.v1i1.66.
Downloads
Published
Issue
Section
License
Copyright (c) 2022 Suwinto Johan
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
a. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License - Share Alike that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
b. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
c. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
USER RIGHTS
All articles published Open Access will be immediately and permanently free for everyone to read and download. We are continuously working with our author communities to select the best choice of license options, currently being defined for this journal as follows: Creative Commons Attribution-Share Alike (CC BY-SA)
