OJK Nets 3,365 Illegal Loans, The Mode Is To Trick Consumers Through SMS And Whatsapp

JAKARTA - The Investment Alert Task Force (SWI) of the Financial Services Authority (OJK) has again found and closed 172 illegal online loans circulating digitally through offers via SMS, Whatsapp short message applications, and on the internet that has the potential to harm.

SWI chairman, Tongam L Tobing, said that his party continues to expand socialization and education to the public about the dangers of illegal online loans.

"We encourage law enforcement against these illegal online loan actors because blocking sites and applications do not have a deterrent effect on these criminals. This illegal loan is a common problem that we must eradicate together to protect the people", he said in a press statement, Wednesday, July 14.

According to Tongam, from 2018 to July 2021 SWI has closed 3,365 illegal fintech lending.

"This loan is quite disturbing to the public because of non-transparent interest and loan deadlines as well as threats and intimidation in collection", he said.

"The Investment Alert Task Force urges the public before investing to ensure the legality of companies offering investments or permits to offer products from the competent authorities by the business activities being carried out," Tongam continued.

On the same occasion, the Director of Economic and Special Crimes of the Indonesian National Police, Brigadier General Pol. Helmy Santika said that his party would reveal cases of illegal online loan cases originating from SWI findings or public reports.

"Bareskrim will continue to respond to public concerns by uncovering cases of these illegal loans", he said.

In addition, OJK and the Police agree that eradicating illegal online loans requires a legal umbrella such as the Financial Technology Law, which includes criminal threats for illegal online borrowers, and the Personal Data Protection Act.

"This effort of course also requires the participation of the community in helping break the chain of illegal online loan traps and be more careful in conducting lending activities by avoiding online loans that are not registered with the OJK", explained Brigadier General Helmy Santika.

In addition to efforts to eradicate illegal lending, SWI also stopped 11 business activities suspected of carrying out business activities without a permit from the competent authority as well as duplicating or on behalf of a licensed entity so that it could potentially harm the community.

Meanwhile, the 11 entities are 2 money game activities, 5 crypto assets without permission, 2 forex, and forex robots without permission, and 2 other activities.