OJK Asks People To Beware Of Illegal Loans Ahead Of Eid 2023

Illustration. (Photo: Doc. Antara)

JAKARTA - The Southeast Sulawesi Financial Services Authority (OJK) appealed to the public to always be aware of offers from illegal online loans (pinjol) that are rife in Ramadan and especially before Eid al-Fitr 1444 Hijriah.

Head of OJK Sultra Arjaya Dwi Raya in Kendari, Saturday, March 25, asked the public to increase their vigilance by being able to analyze the legality or permission of the online loan entity or online loans offered.

"We urge the public to always be aware of offers from illegal online loans or loans that are rife during Ramadan, especially ahead of Eid al-Fitr later," he said, as quoted by Antara.

He asked all people, especially in the Southeast Sulawesi region, to be able to investigate whether the online loans offered are officially registered with the OJK or not.

Arjaya explained that to see if the online loans offered officially or legally can be traced on the official OJK website, because every week it is updated, both online loan entities that have just entered and those issued.

According to him, tracing is important for the public because currently there are illegal online loan offers on behalf of the legal and registered with the OJK, but in fact they are not registered or illegal.

OJK Sultra also appealed to the public to recognize the characteristics of legal and illegal online loans, including the types of official investments registered under the supervision of the Financial Services Authority so that they do not fall into financial problems.

OJK said online loans that were not registered or licensed included asking for access to personal data such as contacts, photos, videos and a number of other personal data used to terrorize borrowers who had problems with their payments.

"Usually, after agreeing to a legal loan, there are only three that can be accessed by this loan, remember that snacks, namely camera, microphone and location, that's all that can be accessed and if someone asks for contact, photos, that's certainly not legal," said Arjaya.

In addition, illegal online loans are not registered, loan interest rates are very high 1-4 percent per day and can even reach 40 percent of the total loans, offices or places where complaints are absent.

In fact, he continued, the timeframe did not match the initial agreement, including arbitrary collection.

Arjaya hopes that people will not be easily tempted by the low loan interest offered and can better recognize the characteristics of official or legal entities so that they do not become victims of illegal and unofficial online loans.