The Minister Of Communication And Information Ensures That Illegal Loans Are Strictly Strictly Reacted Through Strengthening Regulations

JAKARTA - The Ministry of Communications and Information Technology (Kominfo) ensures that illegal online loans (pinjol) which are currently growing in Indonesia must be dealt with firmly by strengthening the applicable regulations.

Law No. 11 of 2008 concerning Electronic Information and Transactions (ITE), along with the amendment and implementation regulations as the legal basis for handling illegal online loans, are the references for the Ministry of Communication and Information in taking action against the perpetrators of these illegal activities.

"Unregistered online lending activities or illegal online loans and access to handling that are not in accordance with the regulations can be charged with criminal acts," said Minister of Communications and Information Johnny G. Plate, quoted by Antara, Friday, October 29.

Johnny said the Ministry of Communication and Informatics was indeed one of the institutions that played a role in resolving the negative impacts of illegal loans.

Therefore, his party seeks to handle illegal online loan actors who have openly misused information and electronic transactions, causing public unrest.

The Ministry of Communication and Informatics has also implemented a moratorium on the registration of the Electronic System Operation (PSE) for Online Loan Financial Services.

The moratorium policy that will be enforced is the latest effort to accompany efforts to cut off access to illegal online loan content that has been carried out by the Ministry of Communication and Information.

The implementation of the moratorium policy was carried out in collaboration with the Financial Services Authority (OJK), the Ministry of Investment/Investment Coordinating Agency (BKPM), and the Ministry of Cooperatives and MSMEs.

The strengthening of these regulations was also carried out in line with the increasing number of transactions made by the public using fintech services.

The Financial Services Authority recorded that the total national distribution of online loans reached Rp249.9 trillion as of October 2021.

This growth shows that the potential contribution of the fintech industry, especially online loans to the Indonesian economy, is a phenomenon that has a major impact on people's economic activities.

Despite growing well, increasing transactions and Indonesia's economic turnover, the public is asked to remain cautious.

"Though these achievements must be appreciated, they must also be watched out for, especially online lending activities continue to be a concern with all elements of the public or elements of society," said Johnny.