OJK Cleans At The End Of The Year, As Many As 80 Illegal Pinjol Blocked

The Investment Alert Task Force when carrying out raids on illegal lenders some time ago (Photo: Doc. Antara)

The Investment Alert Task Force (SWI) initiated by the Financial Services Authority (OJK) reported blocking and closing business activities against 80 illegal online loan platforms (pinjol).

Chairman of SWI Tongam L Tobing revealed that this step fulfilled the previous OJK's firm stance which had closed around 4,432 illegal loans from 2018 to the end of 2022.

"Even though thousands have been closed, the practice of illegal borrowing in society remains rampant," he said in a written statement, quoted by the editor on Wednesday, December 28.

According to Tongam, this step is also proof of the seriousness of the authorities in responding to complaints from victims of illegal lending that appear almost every day.

"Several perpetrators have been subjected to legal proceedings, but some have not been deterred and new perpetrators continue to emerge," he said.

Tongam added that the Investment Alert Task Force encourages law enforcement by the authorities to the perpetrators of this illegal loan.

"One thing is for sure we have blocked sites and applications from being accessed by the public," he said.

Throughout 2022, a total of 97 illegal or fraudulent investments have been prosecuted by the OJK.

Then, 619 loans were closed, and 82 illegal pawnshops were forcibly stopped for business activities.

The estimated public loss due to illegal practices in the financial services sector has reached a value of IDR 123.1 trillion in the last four years.