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Oleh Filmon Warouw, Selasa, 14 Mei 2019 | 14:17 WIB - Redaktur: Filmon Warouw - 1K
Jakarta, InfoPublik – The Financial Services Authority’s (OJK) banned 144 illegal entities that conducted peer to peer lending business activities. OJK’s Task Force for Alleged Unlawful Actions in the Field of Community Funds and Investment Management (Satgas Waspada) revealed that the entities were not registered or had business licenses.
"There are a huge number of illegal fintech lending services. We urge the public to remain vigilant and be critical before choosing fintech lending companies. Please use 106 companies of fintech lending registered in OJK," said the taskforce chair Tongam Tobing in a press release in Jakarta on Sunday (5/12).
The taskforce had found 404 illegal peer-to-peer lending fintech entities in 2018 and 543 entities in 2019 that made 947 in total.
On Apr. 24, the taskforce had also closed 73 illegal business activities that potentially harmed the public. They comprised of 64 illegal forex trading; 5 illegal cash investment; 2 illegal multilevel marketing; 1 illegal plantation investment; and 1 cryptocurrency investment. Thus, the OJK had shut a total of 120 business activities in 2019.
"There are still many illegal investments offered in the public. They are harmful for the economy. We advised to be vigilant in investing funds. Don't be tempted by high profit promises without considering the risks," Tongam said.
The taskforce continuously conducts preventive actions in the form of dissemination and education to avoid public loss caused by illegal investments. Community participation is also crucial by not being a participant of any illegal entities’ activities and immediately reporting suspicious investment offers. (Translator: Filmon Warouw)
