OJK Receives 9,000 Complaints Through April 2024, Most Regarding Fintech

The Financial Services Authority (OJK) received 9,191 consumer complaints through the Consumer Protection Portal Application (APPK) from January 1, 2024, to April 30, 2024.

OJK Executive Head of Supervision for the Conduct of Financial Service Actors, Education, and Consumer Protection, Friderica Widyasari Dewi, stated that the most complaints originated from the financial technology (fintech) sector, with 3,347 complaints.

The second highest number of complaints came from the banking sector, also with 3,347 complaints. There were also 1,952 complaints from financing companies and 423 complaints from the insurance industry.

“The remaining 117 complaints are from the capital market sector and other Non-Bank Financial Institutions (IKNB),” said Friderica in an online press conference on Monday (May 13, 2024).

In addition to resolving incoming complaints, the OJK, together with the Task Force for the Eradication of Illegal Financial Activities (Satgas Pasti), has also shut down 915 illegal financial entities from the beginning of the year to April 2024.

“This number includes 19 illegal investment entities and 896 illegal online loan entities,” said Friderica.