JAKARTA - The Financial Services Authority (OJK) ensures that online lending companies (pinjol) or peer-to-peer lending financial technology (fintech) that are registered and officially licensed are not allowed to access personal contacts, photos and videos on their users' cell phones.
"OJK only gives permission to access cameras, microphones, and locations (snacks) for legal fintech lending that has been registered and licensed by the OJK," the authority said in its official statement, Friday, June 25.
For this reason, if borrowing users or consumers receive treatment that is outside the direction of the OJK, then the cash lending company is legally unofficial.
“If someone asks for access to private contacts, or even photo and video galleries on your phone, you can be sure it's illegal borrowing. Immediately reject it and ignore it," said OJK.
For information, the institution led by Wimboh Santoso provides a guide on seven characteristics of illegal loan sharks, aka online moneylenders.
First, illegal borrowers often make offers via spam SMS. Two, very high fees can reach 40 percent of the loan amount. Third, interest rates and fines are very high, reaching 1-4 percent per day.
Fourth, the repayment period is very short, not according to the agreement. Five, illegal loans always ask for access to all data on mobile phones such as contacts, photos, and videos that will be used to terrorize borrowers when they fail to pay.
Sixth, illegal borrowers carry out unethical collections in the form of terror, intimidation, and harassment. And the seventh illegal pinjol does not have a complaint service and a clear office identity.
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