The Rise Of Online Loans Turns Out To Be A Hoax, The OJK Counseling Program To The Community Is Welcomed
Financial Services Authority (OJK). (Antara/Aditya PP)

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JAKARTA - The Financial Services Authority (OJK) provides a financial services counseling program for the public in the midst of the COVID-19 pandemic. Deputy Chairperson of the MPR, Syarief Hasan, welcomed the program.

The former Minister of Cooperatives and SMEs said the counseling program was to prevent people from being trapped by online fraud, illegal digital transactions, and other types of technology-based fraud.

"The goal is for people to be financially literate so that they are smart and wise in using various digital platforms," Syarief said in a written statement, quoted from Antara, Wednesday, April 20.

Syarief said, recently there are many types of digital platforms that offer various loan and investment schemes that turn out to be detrimental to the community.

He explained, OJK as a state institution authorized to regulate and supervise, integrated in the financial services sector has a central role in ensuring that people are safe in conducting financial transactions.

Furthermore, he explained that the value of digital transactions that utilize financial technology is very large.

Based on data released by the OJK until February 2022, the accumulated loan distribution to loan recipients reached Rp. 326.3 trillion with 76.6 million borrower accounts and 559.3 million loan recipient transactions.

"This proves that OJK has an important and crucial role in ensuring that various digital-based transactions are safe and in accordance with regulations," he added.

On the other hand, the professor in the field of cooperative and MSME management strategy reminded that the use of digital technology in financial transactions also creates gaps for criminals. As is often the case, namely illegal online loans, fraudulent investments, and digital gambling.

"This is the basis why educating the people is the main key so that there are no more victims," he said.

The Center for Financial Transaction Reports and Analysis (PPATK) released that during the last 20 years, the number of suspicious transactions was 247 million reports. Therefore, it is not surprising that the OJK Investment Alert Task Force noted that in the last 10 years, the number of fraudulent investment losses reached Rp. 117.5 trillion.

"Technology is like two sides of a coin, there are prospects and benefits, but it also has risks if it is misused," he said.


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