This Year, The OJK DEFINITE Task Force Stops 915 Illegal Financial Entities

The Task Force for Eradicating Illegal Financial Activities (Satgas Pasti) of the Financial Services Authority (OJK) suspended as many as 915 illegal financial entities from January 1 to May 31, 2024.

Chief Executive of the Behavior Supervisory of Financial, Education and Protection Business Actors of OJK Consumers Friderica Widyasari Dewi said the total illegal financial entities that were successfully eradicated consisted of 19 illegal investments, and 896 illegal online loans (pinjol).

"The complaints of illegal entities received were 7,560 complaints, including 7,194 complaints of illegal loans, and 366 complaints of illegal investment," Friderica said at a press conference on the results of the May 2024 OJK Board of Commissioners (DK) Meeting in Jakarta, quoted from Antara, Tuesday, June 11.

In terms of consumer services, until May 31, 2024, OJK has received 158,483 service requests through the Consumer Protection Portal Application (APPK), including 11,701 complaints.

From these complaints, as many as 4,193 came from the banking sector, 4,275 came from the financial technology industry, 2,529 came from the financing company industry, 547 came from the insurance company industry and the rest were services in the capital market sector and other non-bank financial industries (IKNB). During that period, OJK completed 77.83 percent of the complaints received.

Meanwhile, in the context of enforcing the law on consumer protection provisions, OJK has imposed sanctions in the period January to May 2024, in the form of 39 written warning letters to 39 financial service business actors (PUJK), three orders to three PUJK, and 24 fines to 24 PUJK.

In addition, there were 67 PUJKs to compensate for 206 complaints with a total replacement of Rp68,461,264,185.