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144 Illegal Online Loans Closed, Here Is The List

144 Illegal Online Loans Closed, Here Is The List
144 Illegal Online Loans Closed, Here Is The List
QUX.ME, Jakarta - Task Force for Handling Alleged Unlawful Actions in the Field of Community Funds and Investment Management or the Investment Alert Task Force again found 144 entities that conduct peer to peer lending business activities but are not registered or have business licenses from OJK.

"There are still a lot of illegal fintech lending circulating. We ask the public to remain vigilant and careful before choosing fintech lending companies. Use 106 fintech lending companies that have been registered with the OJK," said Chairman of the Investment Alert Task Force, Tongam L. Tobing in a statement written on Monday (4/29/2019).

Until now, the number of unlicensed Fintech Peer-To-Peer Lending found by the Investment Alert Task Force in 2018 was 404 entities while in 2019 there were 543 entities so that in total there have been 947 entities as attached.

On April 24, 2019, the Investment Alert Task Force also stopped 73 business activities that were suspected of carrying out business activities without the permission of the authorities and potentially harmed the community.

The types of business activities stopped by the Investment Alert Task Force are as follows:

  • 64 Forex trading without permission
  • 5 Invest money without permission
  • 2 Multi Level Marketing without permission
  • 1 Plantation Investment
  • 1 Cryptocurrency investment
Thus, the total business activities that are alleged to be illegal investments and terminated by the Investment Alert Task Force during 2019 were 120 entities as attached.

"There are still many illegal investment offers in the community, and this is very dangerous for the community's economy. People are asked to always be careful in investing their funds. Don't be tempted by high profit lure without seeing the risks that will be accepted," Tongam said.

The Investment Alert Task Force continuously conducts preventive actions in the form of socialization and education to the public so that people avoid the loss of illegal investments. Community participation is very necessary, especially not to be a participant in the entity's activities and immediately report if there are unreasonable investment offers.

Furthermore, the Investment Alert Task Force appealed to the public before investing in the following matters:
  • Ensure that the party offering the investment has permission from the competent authority in accordance with the business activities carried out.
  • Ensure parties offering investment products, have permission to offer investment products or are listed as market partners.
  • Ensure that if there is an inclusion of the logo of an agency or government institution in the media the offer has been made in accordance with the provisions of the legislation.
The following is a list of 144 online loans that were stopped by the Task Force and 73 other illegal businesses.


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