Galbay Pinjol Phenomenon Rises On Social Media, Observers Remind Serious Impact

Senior financial planner and founder of the International Association of Registered Financial Consultants (IARFC) Indonesia, Aidil Akbar Madjid (photo: Dinda Buana/VOI)

JAKARTA - The phenomenon of default (galaxy) online loans is now increasingly widespread and concerning. This trend is also exacerbated by the large amount of content on social media which actually normalizes to carry out billboards.

Responding to this trend, senior financial planner and founder of the Indonesian International Association of Registered Financial Consultants (IARFC), Aidil Akbar Madjid explained, in addition to misleading content in social media, this galbay phenomenon is influenced by inadequate public understanding.

Thus, not a few people think of galbay as a shortcut without risk to avoid financial obligations, even though according to Akbar, these actions actually lead to more severe problems for individuals.

"There are legal consequences. Because Minjam must be paid. Then there are financial consequences, which automatically we will definitely have financial difficulties. Not to mention later there will be credit scoring which can have a financial impact on the future. Moreover, there will be psychological effects," Akbar said in the discussion of the Anti Galbay Generation: Healthy Financial, Great Future by IARFC on Wednesday, October 1 in Jakarta.

Furthermore, Executive Vice President of IARFC Indonesia, Bareyn Mochaddin, revealed that the gap between the level of literacy and financial inclusion in Indonesia is still a gap in the occurrence of this phenomenon.

Data on a survey by the Financial Services Authority (OJK) and the Central Statistics Agency (BPS) in 2025 show that the financial literacy index has only reached 66.46%, while financial inclusion has reached 80.51%.

"This gap opens up space for the emergence of misinformation, including the call to prayer which spreads quickly on social media. Education is key," said Bareyn further.

There are a number of steps that need to be considered so that people avoidgalbay behavior. First, measuring financial capacity before borrowing and ensuring that installments do not exceed their monthly financial capacity.

Second, manage expenses wisely by prioritizing important needs. Third, use loans responsibly as needed.