The Financial Services Authority (OJK) has blocked 10,890 illegal financial entities between 2017 and August 2024 to combat unlawful financial activities.

"From 1 January to 31 August 2024, we received 11,712 complaints about illegal entities," said OJK’s Executive Head of Financial Services Business Conduct, Consumer Education, and Protection, Friderica Widyasari Dewi, on Friday (6/9/2024).

These complaints included 11,091 reports on illegal online loans, locally known as pinjaman online or pinjol, and 621 related to illegal investments. OJK shut down 1,459 illegal investment operations, 9,180 unauthorized online lending services, and 251 illicit pawn operations, according to antaranews.com.

In 2024 alone, OJK has terminated 2,741 illegal entities, including 2,500 online loan services and 241 fraudulent investment schemes. The OJK's Satgas Pasti task force also blocked 995 debt collector phone numbers linked to illegal loan-related threats.

(mg/inp/pr/nm)