The Task Force for the Eradication of Illegal Financial Activities\n(Satgas PASTI) has halted the activities of YWWSDC and RTHAE after\ndiscovering a number of indications of violations in their offers of\ncrypto asset and digital financial asset investments to the public.<\/p>\n
Satgas PASTI Secretariat Hudiyanto said both entities do not hold a\nlicence from the Financial Services Authority (OJK) as Digital Financial\nAsset Traders (PAKD).<\/p>\n
\u201cBoth entities also claim to be companies licensed abroad and are in\nthe process of obtaining licensing from the OJK,\u201d said Hudiyanto.<\/p>\n
Based on the results of clarification and verification, Satgas PASTI\nfound a number of problems in the activities of YWWSDC and RTHAE.<\/p>\n
YWWSDC is known to claim to be part of YWWSDC Group US Ltd, a company\nsaid to be licensed in Colorado, United States. The entity offers crypto\nasset trading investment schemes and the purchase of digital financial\nasset tokens through the YWWSDC platform.<\/p>\n
However, Satgas PASTI found that YWWSDC does not hold an OJK licence\nas a PAKD. Its business activities are also deemed inconsistent with the\nlicence issued by the Ministry of Investment and\nDownstreaming\/Investment Coordinating Board (BKPM).<\/p>\n
In addition, the application and\/or website used by YWWSDC is not\nregistered as an Electronic System Operator (PSE) with the Ministry of\nCommunication and Digital Affairs.<\/p>\n
Satgas PASTI also found indications of changes to link addresses or\nURLs using different names but with a similar appearance. This condition\nis suspected to be linked to YWWSDC.<\/p>\n
Meanwhile, RTHAE offers crypto asset and digital financial asset\ninvestments through the Retail Trader Hosted Automates Engine (RTHAE)\nplatform.<\/p>\n
The offer is made, among others, through an initial token offering\nclaimed to be listed on the RTHAE exchange. In the offer, there is a\npromise that funds already deposited will be returned to members if the\ntoken fails to list.<\/p>\n
The results of Satgas PASTI\u2019s clarification and verification found\nthat RTHAE has no legal entity in Indonesia and does not hold an OJK\nlicence as a PAKD.<\/p>\n
RTHAE\u2019s business activities are also deemed inconsistent with the\nlicence issued by the Ministry of Investment and Downstreaming\/BKPM. In\naddition, the application and\/or website used is not registered as a PSE\nwith the Ministry of Communication and Digital Affairs.<\/p>\n
Based on these findings, Satgas PASTI has halted the activities of\nYWWSDC and RTHAE and blocked access to the related applications and\/or\nURL links.<\/p>\n
Satgas PASTI will also coordinate with law enforcement officials for\nfurther enforcement action.<\/p>\n
Hudiyanto urged the public not to be easily tempted by investment\noffers that promise high and illogical returns, especially if the offer\nis made in the name of a foreign company or claims to be in the process\nof obtaining OJK licensing.<\/p>\n
The public is asked to always verify the legality of parties offering\ninvestments and to understand the characteristics, benefits, and risks\nof the financial products offered before making transactions.<\/p>\n
\u201cMembers of the public who feel aggrieved are urged to immediately\nreport to local law enforcement officials to expedite the handling\nprocess,\u201d said Hudiyanto.<\/p>\n
If members of the public find indications of illegal investment\noffers or other illegal financial activities, including illegal online\nloans, they can report via the website sipasti.ojk.go.id or OJK Contact\n157.<\/p>\n
Reports can also be submitted via WhatsApp 081157157157 and email\n[email protected].<\/p>\n
Meanwhile, for members of the public who are victims of financial\ntransaction fraud, reports can be submitted through the Indonesia\nAnti-Scam Centre (IASC) at iasc.ojk.go.id. Such reporting is expected to\nsupport efforts to block perpetrators\u2019 accounts quickly.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/pasti-task-force-halts-unlicensed-crypto-investment-offers-1788177018", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }