Investment Vigilance Task Force Finds 86 Illegal P2P Lending Platforms

By : Nata Kesuma | Monday, May 10 2021 - 16:10 IWST

Investment Vigilance Task Force
Investment Vigilance Task Force

INDUSTRY.co.id - The Investment Vigilance Task Force has announced that as of April 2021 it has found 86 illegal peer-to-peer financial technology (fintech) lending platforms and 26 unlicensed business activities.

Activities carried out by those twenty six illegal investment entities include money game activities from eleven investment entities, unlicensed cryptocurrency investments from three investment entities, one entity operated as payment system operator, two entities operated as financing operators, and nine other illegal activities from different illegal investment entities.

Chairperson of the Investment Vigilance Task Force Tongam Lumban Tobing said that the task force consisting of thirteen ministries and agencies will continue to conduct regular cyber patrols for detection of illegal fintech lending and investment platforms, adding that the frequency of cyber patrol will also be increased in line with many findings of those platforms all over various channels of communication technology in the community.

Tongam also called on public to stay vigilant against the offers given by illegal fintech lending and investment platforms that take advantage of the Eid Day momentum when the public needs more money.

He added that the task force continues to remind the public to understand legality, permission, and license of the companies and notice the reasonable profit value offered by the companies before lending or investing.

“Moreover, ahead of Eid Day, some people will get annual bonuses and we hope they will not allocate the money on illegal investment and lending offers,” said Chairperson of the Task Force.

Furthermore, Tongam stressed that the Force has nothing to do with the license management or the legality of their business activities.

Therefore, he added, the public must be aware to not participate in platforms that claim legal lending and investment activities under the task force.

Before utilizing lending fintech and investment platforms, he said the public needs to directly contact the official contact center of the Financial Services Authority (OJK) 157 or official WhatsApp number on 081157157157.

In addition, through those numbers and official email [email protected] or [email protected], the public can also report illegal fintech lending and investment platforms.

Tongam also said that the task force has temporary stopped crowdfunding activity Mutual Safeguard Program (Program Saling Jaga) from crowdfunding platform kitabisa.com because it is suspected to be an insurance activity as referred to Law No. 44 of 2014 on Insurance.

Further information about companies that do not have permission from authorized authority can be accessed through the Investor Vigilance Portal on www.sikapiuangmu.ojk.go.id

News Comment

Today's Industry

PT Autopedia Sukses Lestari Tbk (“ASLC”)

Selasa, 18 Januari 2022 - 23:55 WIB

ASLC Remains Optimistic, Continues IPO Plan

PT Autopedia Sukses Lestari Tbk (“ASLC”) a company engaged in the automotive sector, ranging from car and motorcycle auctions, online car buying and selling, and car and motorcycle price…

Genetech Biotechnology, the exclusive distributor of Citrea

Selasa, 18 Januari 2022 - 23:20 WIB

Genetech Biotechnology Launches Four Exclusive Promo Bundles For Citrea In Celebration Of Chinese New Year

Genetech Biotechnology, the exclusive distributor of Citrea, launches four exclusive promo bundles to celebrate Chinese New Year. The four bundle sets, The Prosperity Bundle, The Pampering Duo,…

The International Labour Organization (ILO)

Selasa, 18 Januari 2022 - 22:50 WIB

ILO downgrades labour market recovery forecast for 2022

he International Labour Organization (ILO) has downgraded its forecast for labour market recovery in 2022, projecting a deficit in hours worked globally equivalent to 52 million full-time jobs,…

Check Point Software Technologies (Images by Acclaim)

Selasa, 18 Januari 2022 - 22:10 WIB

New Requirements in the Wake of Omicron have led to Increased Dark Market Activity Around Fake Covid Certificates

Check Point Research has warned of a resurgence in counterfeit test and vaccination certificates amid a new wave of infections driven by the Omicron variant of COVID-19. Forged certificate vendors…

DBS Bank Ltd.

Selasa, 18 Januari 2022 - 21:37 WIB

DBS Bank tops Debtwire Asia Pacific (ex Japan) Loans League Table for Green and Sustainability-Linked Mandated Lead Arranger

DBS Bank has ranked first in Debtwire’s Asia Pacific (ex Japan) loans league table for its role as Green and Sustainability-Linked Mandated Lead Arranger (MLA) for the full year 2021. This…