OJK Revokes PT FEC Shopping Indonesia's Business License

DOK ANTARA

PALEMBANG - Financial Services Authority (OJK) revoked the business license of PT Future E-Commerce (FEC) Shopping Indonesia, which is suspected of being a fraudulent investment or fraud.

Previously, the FEC case became the talk of the people in South Sumatra Province (Sumsel), because it lost the community up to tens of millions of rupiah. In fact, the case became increasingly highlighted after the name of one of the officials in the South Sumatra Provincial Government was suspected of being FEC's mentor.

Head of the OJK Financial Services Sector Investigation Department Tongan L Tobing said such activities were indeed more quickly accepted and known to the public.

"OJK together with the PAKI Task Force have revoked the FEC permit, and now what needs to be done again is disseminating information to the public that FEC is illegal," he said as quoted by ANTARA, Thursday, September 21.

According to him, fraud under the guise of investment often involves various important figures ranging from government to religious leaders. However, whoever is found guilty will be prosecuted in accordance with applicable law.

"However, OJK emphasized that whoever did it is not above the law. They must remain responsible if it is indicated that they made a mistake, even though they may work in government agencies and others," Tongan emphasized.

Meanwhile, Deputy Commissioner for Law and Investigation of OJK Rizal Ramdhani added that currently what must be improved is the public's understanding of financial products and services.

Because, according to him, the public should not only look at the legality of the product, but also have logical and critical thinking about the offers given.

"Investments that offer profits above 11 percent should be suspected by the public. Crimes exist because there are opportunities. For example, he exists because people need fast money," he said.

Meanwhile, during the period January 2021 to August 2023, the South Sumatra Regional OJK has received 12,423 public complaints related to financial services. With details, namely complaints from the non-bank financial industry sector as many as 6,770 complaints or 50.5 percent, banking sector complaints 5.571 or 44.8 percent, and 76 complaints or 0.61 percent of the capital market sector.