Indonesia Financial Services Authority completes investigation and hands PT Crowde Membangun Bangsa fintech lending case to prosecutors

The Indonesia Financial Services Authority (OJK) announced it has completed its criminal investigation into alleged offences involving fintech lending operator PT Crowde Membangun Bangsa (PT CMB) and YS, the company’s president director and shareholder, and has transferred the case to the public prosecutor. The allegations relate to suspected financing services and banking offences over January 2023 to September 2024, including submitting incorrect, false or misleading reports, information or documents to OJK and creating or causing false entries in bookkeeping, business activity reports, transaction reports and or bank accounts. OJK also identified suspected false recording of lender fund disbursements to 62 fictitious partners reported into OJK’s Fintech Lending Data Centre System (PUSDAFIL), with total reported disbursements of around IDR 12 billion. The suspects have been charged under provisions of Law No. 4 of 2023 on Financial Sector Development and Strengthening (P2SK) and related Criminal Code provisions, with potential penalties of up to 15 years’ imprisonment and a fine of up to IDR 200 billion. A pretrial challenge filed by the suspects’ counsel against the suspect designation was rejected in full by the Central Jakarta District Court on 26 January 2026, and OJK’s investigators had already completed the stage II handover of the suspect and evidence to the prosecutor at the South Jakarta District Attorney’s Office on 7 January 2026.