OJK Blocks Hundreds of Illegal Online Lenders by Early 2025

The Financial Services Authority (OJK)'s Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) has blocked 587 illegal online loan entities (pinjol) from the beginning of the year until January 24, 2025.

During this period, the OJK also received reports of 117 bank accounts or virtual accounts involved in illegal financial activities. The blocking of these accounts is currently being processed through the bank supervisory unit.

"Satgas PASTI also identified contact numbers of illegal online loan debt collectors and has submitted a request to block 1,330 contact numbers to the Ministry of Communication and Digital," wrote the OJK in its press release on Tuesday (February 11, 2025).

In addition, the OJK's Satgas PASTI, together with banking and payment system industry associations, has formed the Indonesia Anti-Scam Centre (IASC) or Financial Transaction Fraud Handling Center.

From its commencement on November 22, 2024, to February 9, 2025, the IASC received 2,257 reports. A total of 70,390 accounts related to reported fraud were identified, with 19,980 of these accounts already blocked.

Reported losses amounted to Rp700.2 billion, while Rp106.8 billion in victim funds have been blocked.

"The IASC will continue to enhance its capacity to expedite the handling of fraud cases in the financial sector," wrote the OJK.