Unauthorized Banking Activities as Economic Crimes from the Perspective of Indonesian Criminal Law

Abstract

The banking sector plays a strategic role as a financial intermediary institution tasked with collecting public funds and channeling them back to support national economic growth. The management of public funds demands high public trust and strict supervision, requiring any deposit-taking activity to obtain an official business license from the banking authority (Bank Indonesia/OJK). However, the proliferation of unlicensed banking practices (illegal banking) such as fraudulent investments, illegal cooperatives, and Ponzi schemes presents a severe threat. This study aims to analyze the legal status of unlicensed banking activities as economic crimes from the perspective of Indonesian criminal law, as well as to examine its legal regulations and criminal liability framework. Utilizing a normative legal research method, this study examines relevant statutory laws and legal literature. The findings reveal that unlicensed banking activities are not merely administrative infractions, but are qualified as economic crimes and systemic offenses that harm the wider community and disrupt financial system stability. Such actions satisfy the elements of unlawful acts, intentionality (dolus), and cause material losses to the public. In terms of legal regulation and liability, these activities are strictly prohibited under the Banking Law and can be cumulatively prosecuted alongside fraud, embezzlement, and Anti-Money Laundering (AML) statutes, applied to both individual perpetrators and corporate entities. Consequently, strict law enforcement synergy, adaptive regulatory updates responsive to digital technology, and continuous public financial literacy enhancements are necessary.