world

President Xi Jinping in Budapest

Written by Rainer Ackermann

On Thursday morning, President Xi Jinping and his wife were received with military honors at the Lion Court of Buda Castle.

THE legal process in the case of missing PT Bank Tabungan Negara (BTN) customer funds is ongoing. This case emerged when reports of customers placing their funds in BTN through a former employee of the company went viral and led to demonstrations on Monday (29/4) and Tuesday (30/4).

Member of the Indonesian Ombudsman Yeka Hendra Fatika emphasized that PT Bank Tabungan Negara (Persero) Tbk (BTN) showed its commitment to resolving cases of customer funds that were reported missing, in line with the ongoing legal process.

“The Ombudsman respects the ongoing legal process. We see that BTN has a responsibility in this case,” said Yeka as quoted from Between, Wednesday (8/5).

Yeka explained that if the legal process proves that there was negligence on the part of the bank which caused the case, BTN will be responsible for compensating for the loss of customer funds. However, if BTN is not proven guilty, the bank will not replace the funds reported missing, because this is attributed to the error of an individual.

As previously mentioned, a number of customers held a demonstration in front of the BTN Head Office, Jakarta some time ago. In a video circulating on platform X, a number of customers can be seen arguing with BTN management. The demonstration even ended in chaos. The case of customer funds being reported missing began when customers placed their funds in BTN through a former employee of the company.

After conducting an investigation, Yeka stated that a number of customers affected by this case belonged to community groups who had a good understanding of financial literacy. As a public service supervisor, the Ombudsman asked BTN to take preventative steps so that similar cases do not happen once more in the future.

Also read: Ahead of Eid, BRI Urges Customers to Be Wary of Online Fraud Modes

“We encourage BTN to reduce the risks related to this problem so that it does not happen once more,” said Yeka.

The Ombudsman also appealed to the public to be more careful regarding investment offers that promise fantastic profits. If you plan to invest, people are advised to visit financial institutions directly to obtain official information and services.

“For people affected by this problem, we suggest not to hold demonstrations at BTN because this institution is a place where people’s trust is placed. If you still feel unsatisfied with the process at BTN, we are ready to accept complaints,” added Yeka.

Also read: BTN Targets the New Rich and Middle Class to Reduce Funding Costs

According to an explanation from BTN Attorney Roni Hutajulu, opening an account by a former BTN employee did not comply with applicable procedures. Customers are even promised deposit products with interest of 10% per month.

After opening accounts for customers, former BTN employees did not provide official documents such as savings books or ATM cards to customers, which led to suspicions that customer data was being used by these individuals.

BTN has reported former employees with the initials ASW and SCP to Polda Metro Jaya since February 6 2023, in connection with criminal acts of fraud, embezzlement and forgery. The two individuals have been named as suspects.

However, Roni explained, BTN has never offered deposit products with interest of 10% per month. The rupiah retail deposit product officially offered by BTN has interest rates ranging from 2.35% to 3.40% per year, according to the specified balance strata. The interest rate for guaranteeing rupiah deposits at commercial banks, according to the Deposit Insurance Corporation (LPS), is 4.25%.

The Ombudsman has visited the BTN Head Office and invited the Financial Services Authority (OJK), the Deposit Insurance Corporation (LPS), and the Ministry of BUMN to discuss cases of BTN customer funds that were reported missing and to prevent the recurrence of similar cases in the future. (Ant/Z-10)