OJK Becomes More Aggressive In Squeezing Illegal Loans: Over 3,000 Blocked, Some Have Been Sentenced

JAKARTA - The Financial Services Authority (OJK) revealed that the aspect of community protection is a top priority in carrying out institutional duties.

Deputy Chairman of the OJK Board of Commissioners, Nurhaida, said that this strategic step was taken in line with the rise of illegal online loans (pinjol) that operate not in accordance with applicable regulations and are considered to have the potential to harm the community.

"In response to illegal online loans, OJK synergizes with other ministries and institutions that are members of the Investment Alert Task Force, to carry out law enforcement efforts, including efforts to block more than 3,000 illegal loan modes," he said in a webinar broadcast. virtually, Friday, September 24.

According to Nurhaida, the authorities did not even hesitate to process the perpetrators of the illegal loans to the court.

"We are relentless in punishing the perpetrators of this illegal loan," he said.

Nurhaida added that the position of OJK in consumer and customer protection is quite clear. This is because the legal process is very important in order to keep the financial industry healthy and to maintain its existence in the future.

"Several cases of criminal acts in the financial services sector whose investigations have been carried out by the OJK, we can see that the indications of these crimes have the potential to undermine public confidence in the financial services sector," he said.

Therefore, continued Nurhaida, OJK is always determined to complete the task of this criminal act with all its efforts, including by building collaborations and also synergizing with other ministries or institutions as well as law enforcement officers," he explained.

According to VOI records, the institution led by Wimboh Santoso throughout 2021 has provided a budget of Rp. 21.53 billion as consumer protection funds for the financial industry sector.

OJK has also provided a budget of Rp460 million as an allocation for external legal advisors.

Meanwhile, the OJK budget for 2021 is known to reach Rp6.21 trillion. This amount consists of an operational budget of Rp452.9 billion, administrative budget of Rp5.13 trillion, asset procurement of Rp.581.73 billion, and other supporting budgets of Rp.47.52 billion.