Strong Warning From OJK! They Make Sure They Will Take Legal Paths To Eradicate Illegal Loans

Illustration (Photo: Doc. Antara)

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Wimboh Santoso ensured that his party will take legal action to eradicate the circulation of illegal online loans (pinjol) that often disturb the public. This attitude was conveyed by Wimboh when opening the 2021 National Fintech Month.

"The OJK together with other stakeholders are committed to eradicating illegal lending by legally processing any violations of laws and regulations," he said through a virtual channel, Thursday, November 11.

Wimboh asked people who want to use loan services to check the legal aspects on the official OJK website. He did not forget to remind the audience to be wise in managing financial plans.

“We encourage the public to be careful in using loan facilities. Make sure that the online loan used has been registered with the OJK," he said.

For information, until November 2021, the authorities have announced that there are only 104 borrowing entities that have obtained legality. Of these, 101 of them are licensed and three are registered.

September 2021 data stated that the accumulation of peer-to-peer lending institutions continued to grow positively, reaching IDR262.93 trillion or an increase of 104.30 percent year-on-year (yoy).

Meanwhile, the outstanding loan amounted to IDR 27.48 trillion or grew 116.18 percent yoy. Meanwhile, the total number of illegal borrowings that have been blocked so far is 3,515 entities.

"We invite all interested parties to always jointly safeguard the financial services industry," he said.

Previously, Coordinating Minister for Political, Legal and Security Affairs (Menko Polhukam) Mahfud MD advised people who were already entangled in online loans not to have to pay.

"This is an official statement from the government, OJK, and BI, stop the implementation of this illegal loan. Second, to those who have become victims, don't pay. Because if you don't pay and there are parties who don't accept it then get terrorized, immediately report to the nearest police. The police will provide protection," he said in a virtual press conference some time ago.