OJK Successfully Eradicated 155 Illegal Loans Until May 31, 2023

JAKARTA - Chief Executive of the Behavior Supervisory of Financial Services Business Actors, Education and Consumer Protection of the Financial Services Authority (OJK) Friderica Widyasari Dewi said that the OJK together with the Investment Alert Task Force (SWI) succeeded in stopping the activities of 155 illegal online loan platforms (pinjol) until May 31, 2023.

"As of May 31, 2023, SWI has stopped 15 entities offering investment without permission, as well as following up on the findings of 155 illegal online loan platforms by stopping the activities of each illegal entity in question," said the woman who is familiarly called Kiki at the OJK press conference in Jakarta, quoted from Antara, Wednesday, June 7.

From early January to May 31, 2023, Kiki said that the OJK had received 121,415 service requests, including 8,428 complaints, 35 complaints with indications of violations, and 713 disputes that were included in the Financial Services Sector (SJK) Dispute Settlement Alternative Institution (LAPS).

From the complaint, he detailed as many as 4,438 complaints from the Non-Bank Financial Industry (IKNB) sector, 3,949 complaints from the banking sector, and the rest complaints from the capital market sector.

Responding to the rise of illegal loans and the high level of complaints, he continued, simultaneously the OJK has carried out 812 financial education activities that have succeeded in reaching 162,528 participants nationally until May 31, 2023.

He gave an example, Attitude of your Money which is a communication media channel in the form of minisite and an application specifically informing content related to financial education to the public digitally, successfully publishing 174 content of financial education content.

Meanwhile, to deal with consumer protection issues in the financial services sector and encourage equal distribution of financial literacy and inclusion, OJK also encourages massive financial literacy and inclusion programs, both face-to-face (offline) and online) through the Learning Management System (LMS) and social media.