CWIG: The State Must Not Lose in USD 1 Million Alleged BAT Bank Case
Jakarta, otoritas.co.id — Cerdas Waspada Investasi Global (CWIG) Chairman Henry Hosang has issued a firm public warning urging the Jakarta Metropolitan Police (Polda Metro Jaya) to promptly elevate a USD 1 million alleged fraud and deceit report involving PT BAT Instrumen Bank Internasional (BAT Bank) from the administrative stage at the Integrated Police Service Center (SPKT) to active investigation and formal criminal inquiry in accordance with the law.
Henry stressed that the report cannot be treated as an ordinary complaint. Given the significant financial loss, a clearly identified locus in Jakarta’s central business district, an identifiable reported party, and official clarifications from the Financial Services Authority (OJK) and Bank Indonesia, the case objectively warrants serious and immediate law-enforcement attention.
“This is not a minor issue, nor a mere civil dispute. It is a serious alarm regarding alleged financial misconduct operating under a banking narrative, without regulatory authorization, resulting in losses of up to USD 1 million,” Henry stated.
According to the police report officially received by SPKT Polda Metro Jaya, the victim was promised a USD 10 million overdraft facility on the condition of placing a USD 1 million deposit. However, based on information contained in the report:
- the funds were transferred by the victim;
- the promised facility was never realized;
- the funds have not been returned; and
both OJK and Bank Indonesia have confirmed that the entity is not licensed as a bank in Indonesia.
CWIG maintains that this report goes beyond a procedural filing and represents a matter that meets the minimum legal threshold to be immediately followed up through investigative measures.
“If cases with this kind of structure are not handled decisively, the message to the public is extremely dangerous: anyone could claim to be a bank, collect large sums of money, and the state risks responding too late,” Henry warned.
CWIG also highlighted indications that the reported party has acknowledged control over the victim’s funds, while repayment was allegedly conditioned on the victim signing certain documents and refraining from pursuing civil or criminal remedies. CWIG emphasized that such circumstances must be examined carefully by investigators to ensure that the victim’s legal rights are not compromised in the future.
Furthermore, Henry noted that the case shows cross-border elements, potential multiple victims, and indications of fund control and possible concealment, making it legally reasonable for investigators to explore further developments in accordance with applicable laws, should sufficient elements be found.
According to CWIG, the speed and firmness of Polda Metro Jaya’s response in this matter will serve as a national benchmark for how Indonesia addresses increasingly complex and sophisticated financial crimes.
“This is not about pressuring outcomes. It is about safeguarding the credibility of law enforcement itself. In large-scale financial crime cases, delay or hesitation risks eroding public trust in the legal system,” Henry asserted.
CWIG stated that it will monitor the handling of this case openly and on an ongoing basis, including encouraging lawful procedural progress, observing developments in the investigation, and informing the public should unexplained obstacles arise at later stages.
“The state must not lose to schemes. What is at stake is not only the victim’s funds, but public confidence in the rule of law,” Henry concluded. (**)
