Inp.polri.go.id - Nusa Dua. The Financial Services Authority (OJK) revealed that illegal online loan, locally known pinjol, services continue to proliferate despite numerous closures, as their servers are often located overseas.
“Hundreds, even thousands, of illegal loan platforms have been shut down, but they keep reappearing because their servers are based outside the country,” said OJK Deputy Chairman Mirza Adityaswara during a financial education conference in Nusa Dua, Bali, on Friday (8/11/2024).
He explained that even though illegal platforms are blocked within Indonesia, the overseas servers allow these operations to persist beyond Indonesian jurisdiction. He emphasized that OJK’s actions include closing down such services and tracking related bank accounts.
To address the issue, he stressed the need for stronger international cooperation between financial regulators and law enforcement, according to antaranews.com.
Mirza also highlighted the importance of educating consumers, especially young people, about financial products like "buy now, pay later" schemes and peer-to-peer lending, ensuring transparency and understanding before engaging in transactions.
OJK has taken action against financial institutions that fail to protect consumers, including imposing sanctions.
(mg/inp/pr/nm)