The Tough Challenges Of OJK In The Future: Illegal Loans, Fraudulent Investments To Online Gambling

Illustration (Photo: Doc. ANTARA)

JAKARTA - Chairman of the OJK Board of Commissioners Mahendra Siregar said there will be various challenges that will be faced in 2025. These challenges come from internal and external factors.

Mahendra said that this external challenge is related to the handling of illegal financial services industry companies. For example, such as loans, fraudulent investments, to online gambling.

"Handling illegal entities, both illegal online loans, illegal or fraudulent investments and illegal financial transactions such as online gambling," he said in a meeting with Commission XI of the DPR RI, at the DPR Building, Jakarta, Wednesday, June 26.

Mahendra explained that in dealing with these challenges, OJK will continue to carry out educational activities, literacy, financial inclusion and also consumer protection.

In addition, said Mahendra, there are other challenges related to the transition process for the transition of the new authority of the OJK in monitoring crypto assets and financial service cooperatives (open loops), including the completion of the provisions (RPP) in the context of implementing the new supervisory authority.

Not to mention, continued Mahendra, regarding improving the quality of offering securities in the primary market and reasonable stock transaction liquidity in the secondary market, as well as increasing financial literacy and inclusion for Islamic products and products other than in the banking sector.

Meanwhile, for internal OJK challenges, Mahendra continued, there are five challenges to be faced. First, the fulfillment of head office infrastructure in IKN and OJK offices in the regions.

Second, continued Mahendra, the fulfillment of the effective formation of human resources (HR) to support the addition of supervisory authority as mandated by Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK).

Then, the fulfillment of the composition and competence of OJK investigators as well as the support of the investigation infrastructure. Furthermore, the development of information systems to support integrated supervision and licensing.

Finally, said Mahendra, strengthening information technology infrastructure to support the implementation of applications' duties and security in efforts to prevent cyber attacks.