The mode of fraudulent investment crimes in Indonesia is increasing and diverse, with perpetrators always modifying the methods to ensnare their potential victims.

Jakarta (Indonesia Window) – The number and mode of fraudulent investment crimes in Indonesia are increasing and diverse, with perpetrators always modifying the methods to ensnare their potential victims.

“Now, fraudulent investment can be done through technology and robot schemes. The perpetrators say, ‘you don’t need higher educations to invest. Just have cellphones or laptops, then they can invest,” a legal practitioner specializing in fraudulent investment cases, Oktavianus Setiawan, SH, CMED, CMLC, CRIP, said in a national seminar under the theme ‘Beware of Fraudulent Investment Crimes’, as one of a series of events for the 9th anniversary of Sudut Pandang mass media, here on Saturday.

According to him, one of the important factors in the occurrence of fraudulent investment crimes is humans. “This human factor is because many want to get rich quickly without any effort. This is a fact why fake investment continues to occur.”

Data from the Indonesian Financial Services Authority (locally known as its abbreviation as OJK) show that public losses due to fraudulent investments with trading robots reached 139 to 250 trillion rupiahs between 2017-2023.

"With just 139 trillion rupiahs, we can build 504 new hospitals, 1,200 kilometers of toll roads, build 3,200 kilometers of new roads or as far as Medan-Palembang, and even build the Balikpapan-Pontianak railway line," Oktavianus explained.

However, he continued, many of the funds from these crimes were actually taken abroad, such as to Cambodia, to be "laundered there".

Regarding public education, Oktavianus emphasized that, "Easy money is high risk, and in investment there are no fixed numbers or no fixed grades. All forms of business and investment must be legal and logical."

Although fraudulent investment crimes in the country have resulted in enormous losses, he considered the punishment given to the perpetrators to be too light. "That's why every year there are always cases of this crime that are found."

"The authorities must be consistent in handling this case. Regulation and public supervision must also be strict. The government, supervisory institutions, society, and mass media must always guard against investment crimes,” he stressed.

Oktavianus admitted that if the number of victims continues to increase, “in the future, the court verdict would decide that the assets resulting from fraudulent investment crimes be returned to the state (not to the victims), because this crime is equated with gambling.”

“This is because the law is always dynamic. This is what we want to prevent. Although not 100 percent of the money is returned to the victims, there are restitution funds for the victims,” he underscored.

With the many fraudulent investment crime cases he has handled, including the Fahrenheit case, the Fin88 trading robot, and Evotrade, Oktavianus Setiawan has been known as a specialist lawyer in fraudulent investment cases.

Reporting by Indonesia Window