OJK Affirms Snack Video Is An Illegal Application: Suspected Of Being A Money Game

JAKARTA - The Southeast Sulawesi (Sultra) Financial Services Authority (OJK) confirmed that Snack Video does not have a license and is declared illegal. Head of OJK Southeast Sulawesi (Sultra), Mohammad Fredly Nasution said that the Snack Video had been discussed by the Central Investment Alert Task Force (SWI) and stated that the application was illegal.

"The video snack was discussed at the SWI meeting on February 18, 2021 and declared illegal because there was no permit and was suspected of being a money game," Fredly said in a written statement, quoted from Antara, Wednesday, February 24.

Snack Video is thought to offer revenue for its users by simply watching uploads from application users and also using the system to invite friends.

He said, easy property is a property service and was discussed by SWI in 2018 or 2019. SWI prohibits easy property from carrying out investment or marketing activities using the name OJK or SWI.

"Therefore, people are asked to be aware of this activity, because it only sells membership, not property ownership," said Fredly.

Previously, the Southeast Sulawesi (Sultra) Financial Services Authority (OJK) had appealed to the public not to invest in entities that are also suspected of being illegal, namely "Vitube and Tiktokcash".

He suggested that before investing, things must be understood, namely understanding and ensuring that the party offering the investment has a license from the competent authority in accordance with the business activities being carried out.

Second, ensure that those who offer investment products have permission to offer investment products or are listed as marketing partners. Third, ensure that if there is an inclusion of the logo of a government agency or institution in the media the offering has been carried out in accordance with the provisions of laws and regulations

"Fourth, use common sense on the reasonableness of returns / benefits / bonuses and the like for the products offered. If it is not reasonable then re-confirm legality. In simple terms it can be summarized by 2L, namely Legal and Logical," he concluded.