Not Just Binomo, These Are the Various Bogus Investments Blocked by Kominfo

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Cindy Mutia Annur 11/03/2022 12:30 WIB

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The majority of fraudulent investment content blocked by the Indonesian Ministry of Communication and Information (Kominfo) from 2016 to March 10, 2022, consisted of illegal forex content, totaling 1,

Types of Fraudulent Investment Content Blocked by the Ministry of Communication and Informatics (2016-2022*)

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Types of Fraudulent Investment Content Blocked by the Ministry of Communication and Informatics (2016-2022*)

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Lately, there has been a surge in fraudulent cases involving gambling applications using the binary option system.

One of the most notable cases is that of the Binomo application, involving Indra Kenz as a suspect, with reported victim losses reaching Rp25 billion.

Since 2021, the Ministry of Communication and Informatics (Kemenkominfo), in collaboration with the Commodity Futures Trading Supervisory Agency (Bappebti), has blocked binary option applications such as Binomo, IQ Option, Olymptrade, Quotex, and hundreds of other similar platforms.

Over the past five years, Kemenkominfo has also blocked various types of other fraudulent investment content, totaling 3,180 pieces of content as of March 10, 2022.

The majority of blocked content consists of illegal forex, totaling 1,167 pieces of content. This amounts to 36.7% of the total blocked fraudulent investment content.

The blocking of illegal forex content was most prevalent in 2020, with a total of 663 pieces of content. Then, 312 pieces of illegal forex content were blocked in 2021.

Other types of blocked fraudulent investment content include 961 pieces of illegal brokerage content and 209 pieces of binary option content.

According to a report by the Financial Services Authority (OJK), the value of losses suffered by the Indonesian public due to fraudulent investments has reached hundreds of trillions of Rupiah over the past decade. Therefore, the public needs to be more wary of investment offers circulating on the internet.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."