Bappebti Blocks 1,726 Illegal Investment Websites Through October 2023: Details Inside

The Commodity Futures Trading Supervisory Agency (Bappebti) blocked 1,726 websites offering illegal investments disguised as commodity futures trading (PBK) between January and October 2023.

Based on Bappebti data received by *Databoks*, the majority of blocked entities were illegal futures brokers, totaling 1,143 websites.

The second largest category was illegal physical crypto asset trading, with 294 blocked websites. This was followed by duplicates or scams (114 websites) and binary options (84 websites).

Bappebti also blocked other illegal investment entities, including 74 illegal futures consultants, 13 Ponzi schemes or money games, 3 illegal digital gold traders, and 1 robot trading entity.

Compared to the previous year, the number of blocked illegal entities in 2023 increased by 228 compared to 2022, which saw 1,498 blocked sites.

In addition, Bappebti has also halted 6 illegal investment companies operating under the guise of PBK by October 2023.

Bappebti Head Didid Noordiatmoko explained that his agency collaborates with the Ministry of Communication and Informatics (Kominfo) to conduct cyber patrols.

"We are more specific about those disguised as commodity futures trading (PBK). There are also those that are genuinely commodity futures trading but unlicensed by Bappebti; these are still illegal. There are also those that falsely claim to be commodity futures trading when they are not. Previously, we knew them as Ponzi schemes; these are also illegal," said Didid at the Bappebti office in Central Jakarta, as reported by *Detik.com* on Wednesday (1/11/2023).

(See also: Losses from Illegal Investments in Indonesia Reach Rp120.79 Trillion, the Highest in a Decade)