The Rise of Illegal Online Investments and Loans: Reasons Revealed by OJK

JAKARTA, KOMPAS.com – The Financial Services Authority (OJK) stated several reasons for the rise of illegal online investments and loans (pinjol). OJK analyst Sokhib Nur Prasetyo said the cause could be seen from two sides, namely the perpetrator and the community.

From the perspective of the perpetrator, Sokhib explained that currently it is very easy to upload applications or websites. Thus, many illegal investments and loans are scattered around.

“Even though the Task Force for Eradicating Illegal Financial Activities or the Sure Task Force has been patrolling every day, illegal investments and loans still persist. Apart from that, the difficulty in eradicating them is also because the location of the illegal servers is outside Indonesia or the location is unknown,” he said, quoted from Kontan. co.id, Saturday (6/1/2023).

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Sokhib also said that OJK sometimes does not know where the source is, and it is even possible that the police or Interpol do not know about the location. Thus, he said that technological sophistication could make the location impossible to find.

From the community side, Sokhib does not deny that there is still a gap in literacy levels with financial inclusion and the unequal distribution of inclusion in urban and rural areas, which is one of the main causes of the proliferation of illegal investments and loans.

Apart from that, there are still people who do not check legality and have limited understanding of lending.

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“Apart from that, there is also an urgent need due to financial difficulties and an attitude of wanting to get rich quickly, without effort,” he said.

Sokhib also said that it was not only the lower middle class who were caught in illegal investment and borrowing, even the upper middle class were also victims.

For information, the Definite Task Force found 22 entities carrying out investment offers or illegal financial activities in the November 2023 period.

The Pasti Hudiyanto Task Force Secretariat detailed that of the 22 entities, 12 of them offered part-time work with a deposit system.

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“Apart from that, 7 entities carried out investment offers without permission, 2 entities carried out crypto asset trading activities without permission, and 1 entity carried out financial recording activities without permission,” he said in an official statement, Saturday (30/12).

In the November 2023 period, the Certain Task Force also blocked 337 illegal online loans on a number of websites and applications. Apart from that, 288 pieces of content related to personal loans (pinpri) were also found that had the potential to violate personal data confidentiality provisions.

Thus, from 2017 to 2023, the Task Force has stopped 8,149 illegal financial entities consisting of 1,218 illegal investments, 6,680 illegal online loans and personal loans (pinpri), as well as 251 illegal pawn entities.

The Definite Task Force also found 38 bank accounts or virtual accounts that were reported by the public to be related to illegal online lending activities. (Reporter: Ferry Saputra | Editor: Handoyo).

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This article was published on Kontan.co.id with the title OJK Reveals the Causes of Illegal Investment and Loans Still Widespread

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2024-01-06 13:34:00
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