OJK Asks Banks To Block 85 Accounts To Minimize Illegal Loans

Screenshot of the Chief Executive of Banking Supervision of the Financial Services Authority (OJK) Dian Ediana Rae in an online press conference, Monday (4/12/2023). (ANTARA/Sanya Dinda)

The Financial Services Authority (OJK) has asked banks to block 85 accounts since September 2023 related to illegal online loans as an effort to minimize and limit the space for perpetrators to move through the banking system. OJK Chief Executive of Banking Supervision (KEPP) Dian Ediana Rae said that strict action against activities that disrupt the economy and society such as illegal online loans will continue to be carried out by OJK. Including through cooperation with various parties such as the Ministry of Communication and Information. "OJK will always maintain the integrity of the financial system from disturbances to economic crimes, including the use of banking both institutionally and through the use of accounts by certain individuals for the means of committing or facilitating crimes, which do not support healthy economic activities," he said in a statement received in Serang, Antara, Friday, December 22. According to him, this is in accordance with Law Number 8 of 2010 concerning the Prevention and Eradication of Money Laundering (TPPU Law) and Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK), which mandates the OJK to cooperate with the relevant Ministries/Institutions, internal OJK, and the financial industry to continue to fight practices that harm the community and damage the reputation and integrity of the financial system. "OJK has also asked the banking industry to always maintain a strong commitment in supporting efforts to eradicate financial activities that violate the law, including illegal online loans through increasing the implementation of customer due diligence and enhanced due diligence (CDD/EDD)," he said. Especially in carrying out early identification, verification and monitoring to ensure customer transactions are in accordance with the profile, characteristics and/or pattern of transactions, through the development of reliable monitoring media. In addition to the OJK's request, said Dian, the Bank also conducted independent analysis and blocking of accounts. Specifically for illegal online loans, there are general characteristics that can be of public concern, including unregistered/licensed from the OJK, high interest offers, unclear loan agreement requirements, offers through Spam, SMS, or social media, asking for access to personal data, and not having a clear office identity. "OJK also asks the public to be aware of online loan offers, and ensure that they only use registered / licensed official online loans from the OJK whose information can be obtained through OJK contacts 157," he said. In addition, said Dian, OJK has also issued OJK Regulation (POJK) Number 8 of 2023 concerning the Implementation of Anti-Money Laundering Programs, Prevention of Terrorism Financing, and Prevention of Funding for Proliferation of Mass Destruction Weapons in the Financial Services Sector. Prior to that, OJK already had POJK No. 39 of 2019 concerning the Implementation of Anti-Fraud Strategies which have so far been able to minimize the potential for fraud in the banking system. Most recently, OJK has also issued POJK Number 17 of 2023 concerning the Implementation of Governance for Commercial Banks. Implementation of good governance is very fundamental in managing a bank's business activities so that it can develop in a healthy and sustainable manner, by prioritizing values, ethics, principles, and upholding integrity. Dian said, OJK will continue to establish synergies and coordinate and cooperate with various parties to eradicate criminal acts in the banking sector in Indonesia, as well as strengthen financial literacy and carry out communication and education programs actively and thoroughly to increase public awareness.

"This effort is carried out to protect the public from illegal financial activities that can be economically and socially detrimental," he said.