The Financial Services Authority (OJK) through the Investment Alert Task Force (SWI) is said to have closed nine illegal private pawnshops conducting business activities without a permit.
Chairman of SWI Tongam L. Tobing said this firm action was in accordance with the mandate contained in the Financial Services Authority Regulation Number: 31/POJK.05/2016 concerning pawnshop Business (POJK).
"Since the 2019 period until December 2022, the Task Force has closed 251 illegal pawnshop activities," he said in a press statement quoted on Wednesday, December 28.
Tongam explained that his party continues to educate the public in order to prioritize legal financial service institutions.
"SWI asks the public to ensure the legality of private pawn businesses and only transact with pawn businesses registered with the OJK," he said.
Tongam also appealed to the public to be aware of all forms of new modes carried out by the perpetrators to ensnare victims.
"If you find a suspicious investment offer, the public can consult or report to the OJK Consumer Service 157 or the official website of the authority," he stressed.
Citing data released by the Financial Services Authority, the value of public losses for illegal financial services activities, especially fraudulent investments (bodong) has reached Rp117.5 trillion.
This value is the accumulation of cases that have been recorded from 2021 to early 2022.
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