Indonesia's Financial Services Authority (OJK) Blocks Nearly 3,000 Illegal Online Lenders Through November 2024

The Financial Services Authority (OJK)'s Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) has blocked 2,930 illegal online lending entities (pinjol) from the beginning of the year to November 2024.

Cumulatively, 9,610 illegal pinjol platforms have been blocked since 2017 until November 2024.

During this period, the OJK also blocked 1,528 illegal investment entities and 251 illegal pawn entities.

According to Friderica Widyasari Dewi, Executive Head of the OJK's Supervisory Board for the Conduct of Financial Service Actors, Education, and Consumer Protection, since the beginning of this year, her team has also stopped 310 offers of illegal investments on several websites and applications that have the potential to harm the public.

"Satgas PASTI has also requested the blocking of 1,447 contact numbers (illegal pinjol debt collectors) to the Ministry of Communication and Digital," said Frederica in an online press conference on Friday, December 13, 2024.

Until November 2024, the OJK received reports regarding 228 bank accounts or virtual accounts involved in illegal financial activities. Requests to block these accounts have been submitted through the bank supervisory unit.