Prevent The Octempt Investment, OJK Closes 5,861 Illegal Entities Since 2017

JAKARTA - The Financial Services Authority (OJK) has taken various steps to prevent fraudulent investments and illegal online loans (pinjol). OJK's Chief Executive of Behavior Supervisory for Financial, Education and Consumer Protection Business Actors, Friderica Widyasari Dewi, said that her party had closed about 5,861 illegal entities since 2017.

"Right, OJK has an Investment Alert Task Force (SWI) in collaboration with several other ministries and institutions, since 2017, for this illegal investment, we have closed 1,100 illegal investments, then 4,482 illegal lending entities, as well as illegal pawns around 251," Friderica said in a virtual press conference in Jakarta, Thursday, February 2.

Friderica admitted that she was surprised, even though she had blocked it, her party ensured that illegal entities continued to emerge.

In addition, it is also very easy for people to enter into such fraudulent schemes. In fact, the process is simple, offering only lucrative returns far above the value of deposits in banks in general.

"Or promising real things if we use logic like that, yes, it is very illogical and not to mention if they don't want to check whether this is a legal entity or not," he said.

Therefore, said Friderica, his party has proactively taken several approaches. First, take preventive measures by massive education. According to him, the OJK team continues to tour to provide education about this illegal investment.

Another step taken by the OJK is to strengthen the institutions of the Investment Alert Task Force which has been included in the Financial Sector Development and Strengthening Law (UU PPSK). "What was previously an inter-institutional MoU, this has been included in the law, so this extraordinary strengthening is being carried out," he explained.

In addition to education and socialization, OJK also redistributes information about investment fraud alerts and illegal loans. Cyber patrols for links suspected of being illegal entities are also being carried out. Then, increase the effectiveness of handling consumer complaints.

Furthermore, OJK also opens complaint channels, cooperates with associations. In all regional offices, OJK has even opened complaints about illegal investments, as well as accelerated responses to public complaints.

"We also announced a list of illegal investments and illegal loans. So, people actually have to have a little effort. This often then asks me, 'Mom is legal or not?' In fact, people can check themselves in the 157 contact," he said.

In the future, Friderica said, OJK will take legal action, if in the future it still finds violations committed by a number of illegal entities.

"Law enforcement at the PPSK, in Article 305 there is a penalty of between 5-10 years and a fine of up to Rp. 1 trillion," he concluded.