Pinjol Association Concerned About Bodong Investment Cases Are Rising: Loss Value Reaches Rp114 Trillion

Illustrations (Photo: Doc. VOI)

JAKARTA - Chairman of the Indonesian Fintech Association (Aftech) Pandu Sjahrir expressed concern about the rise of fraud under the guise of investment offers in the community through short message groups that have claimed many victims.

According to him, the actions of the responsible person usually use the mode of duplicating (profit-making) or on behalf of a licensed fintech operator to deceive the public.

"This fraudulent act is also of course very detrimental to official fintech operators," he said in an official statement, Thursday, July 15.

In Pandu's notes, the Financial Services Authority (OJK) as the supervisory agency said the value of illegal investments or fakes had reached Rp. 114.9 trillion from 2011 to 2020.

For this reason, Pandu welcomed the Anti-Fake Fintech Campaign which is now being intensified by the Financial Services Authority, Bank Indonesia, and the Ministry of Communication and Information.

"This campaign is of course a place for good synergy between business actors, the government, and other stakeholders in Indonesia's digital financial ecosystem because it can prevent fraudulent acts that are clearly detrimental to the community," he said.

On the same occasion, OJK Commissioner for Consumer Education and Protection, Tirta Segara, reminded the public to be wiser in choosing investment instruments. Especially with the lure of high yields but with unclear risks.

“Scams under the guise of investment offers are currently on the rise. We urge the public to always ensure that the offers they receive meet legal and logical principles,” he said.

Similarly, the Head of the Payment System Policy Department of Bank Indonesia, Filianingsih Hendarta, explained that the current development of digital technology opens up opportunities for criminals to roam without having to meet face to face.

"Bank Indonesia invites consumers of digital financial services to increase their awareness of the increasing number of fraudulent practices in cyberspace," he said.

To note, Aftech itself is a fintech company forum that provides online loan facilities (pinjol) to the public with a peer-to-peer lending scheme. Aftech currently has 335 members representing financial institutions and technology companies.

Meanwhile, based on the latest data from the OJK as of June 2021, there are 124 loan companies that have official legality. Meanwhile, the number of illegal loans that were successfully eradicated by the authorities from 2018 to July 2021 was 3,365 entities.