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115 J.L. Pol'y & Globalization 1 (2021)

handle is hein.journals/jawpglob115 and id is 1 raw text is: Journal of Law, Policy and Globalization www.ilste.or ISSN 2224-3240 (Paper) ISSN 2224-3259 (Online) I Vol.115, 2021 nSiE Criminal Law Protection Against Illegal Investment Entities in Indonesia Edi Ribut Harwantol* 1.Head of the Laboratory of Law Faculty, Muhamadiyah Metro University Advocate-Lecturer in Economic Criminal and Intellectual Property Rights at the Law Faculty of Muhammadiyah Metro University International Seminar on Foreign Investment Law in Indonesia-Muhammadiyah University Metro-28 October 2021 Abstract The Investment Alert Task Force re-released the latest list of fraudulent investments in September 2020. At least, there were 99 illegal foreign and domestic investments that were included in the list. A total of 99 illegal investments are suspected of carrying out business activities without permission from the competent authority. These entities are considered to have the potential to harm the public because they commit fraud by offering very high and unreasonable returns. The formulation of the problem raised in this study is about the rise of illegal domestic investment crimes that duplicate business activities on behalf of officially licensed entities in Indonesia. In this research, the paradigm used is post-positivism paradigm. The post-positivism paradigm wants to prove that everything is based on reality that can be built based on experience, observation, researchers are neutral towards the object of research, even though the researcher holding this paradigm remains neutral towards the object of research, he wants to examine what actually happened from the things that happened. as if it was certain. The results of the study describe the modus operandi of domestic investment and foreign investment regulations based on Law Number 25 of 2007 concerning Investment and the reformulation of some clauses through the omnibus law of the Job Creation Act No. 11 of 2020. Rearrangement of investment regulations is expected to provide legal certainty from the perspective of regulation and legal protection from the perspective of law enforcement. In conclusion, the Financial Services Authority Investment Alert Task Force is needed, which is a combination of various law enforcement teams, must closely monitor the business activities of God's foreign capital investment in Indonesia and provide legal protection for investors who legally conduct business activities in Indonesia. Keywords: Crime, Foreign Capital Investment, Omnibus Law, Investment Alert Task Force. DOI: 10.7176/JLPG/115-01 Publication date: November 30th 2021 1. INTRODUCTION One of the goals of establishing a state government is to promote the general welfare. The mandate, among others, has been described in Article 33 of the 1945 Constitution of the Republic of Indonesia and is a constitutional mandate that underlies the formation of all laws and regulations in the economic field. The constitution mandates that national economic development must be based on democratic principles that are able to create the realization of Indonesia's economic sovereignty. The linkage of economic development with people's economic actors was strengthened again by the Decree of the People's Consultative Assembly of the Republic of Indonesia Number XVI of 1998 concerning Economic Politics in the Context of Economic Democracy as a source of material law. Thus, the development of investment for micro, small, medium enterprises, and cooperatives is part of the basic investment policy. In this regard, investment must be part of the implementation of the national economy and be placed as an effort to increase national economic growth, create jobs, increase sustainable economic development, increase national technological capacity and capability, encourage people's economic development, and realize community welfare in a competitive economic system. The purpose of implementing investment can only be achieved if the supporting factors that hinder the investment climate can be overcome, among others through improved coordination between central and regional government agencies, the creation of an efficient bureaucracy, legal certainty in the investment sector, highly competitive economic costs, and climate conducive business sector in the field of employment and business security. With the improvement of these various supporting factors, it is hoped that the realization of investment will improve significantly. In the development of legal principles in Indonesia, there are two laws that we know, namely, general criminal law, special criminal law in the Criminal Code, and special criminal law outside the Criminal Code. The Criminal Code is divided into three books, book I contains general provisions, book II contains crimes and book 1

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