Losses Due To Illegal Fintech Reach Rp114.9 Trillion, Victims Ranging From People Not Graduating High School To 'Educated' People

Illustration. (Photo: Doc. Between)

JAKARTA - The Financial Services Authority (OJK) through its investment alert task force (SWI) announced data on illegal investment losses in the past decade. Total public losses from illegal investments in Indonesia have reached Rp114.9 trillion. The data is from 2011 to the end of 2020.

Deputy Commissioner for Education and Consumer Protection OJK Sardjito the amount of the loss is caused because the public is easily persuaded the lure of high profits, but does not consider the risks.

Sardjito said from the data, the highest loss rate occurred in 2011 which reached Rp68.6 trillion. Then, there was a decrease in 2012 to Rp7.9 trillion.

Then, in 2014, 2015, 2016, 2017, 2018, and 2019, namely Rp0.2 trillion, Rp0.3 trillion, then up Rp5.4 trillion, Rp4.4 trillion, Rp1.4 trillion, and Rp4 trillion. Meanwhile, last year's data in December 2020 of public losses was seen to be Rp5.9 trillion.

Furthermore, he said, people who are deceived by the lure of illegal investments are not always those who are poorly educated. But also those with a high educational background.

"Some time ago in Depok there, the culprit did not graduate high school. The victims are a lot of top guys. Highly educated. That means actors are smarter than those who are deceived," he said in a webinar titled Protecting the Public from Fintech And Illegal Investment, Jakarta, Tuesday, April 13.

In addition, Sardjito acknowledged the proliferation of illegal investments is also due to the limitations of OJK's authority in following up on community reports. In the midst of that condition, the mode used by the perpetrator is increasingly diverse.

Therefore, he warned the public should remain vigilant against legal investments. Because they could have kept showing up even though they were closed. Sardjito also encourages the public to be careful by checking the legality of investment and fintech companies before making transactions.

"I have memorized the losses so far due to illegal investments. Therefore a task force was formed because there are types of illegal investments or strategies of people who are ready to cheat in various ways," he said.