Illegal Online Lenders Completely Eradicated, 951 Entities Shut Down in 3 Months

The Task Force for Eradicating Illegal Financial Activities (Satgas PASTI) continues to combat illegal financial activities in Indonesia, including illegal online loans (pinjol). In the first three months of 2026, nearly 1,000 illegal pinjol entities were halted. “From 1 January 2026 to 31 March 2026, Satgas PASTI has identified and stopped 951 illegal pinjol entities as well as two illegal investment offerings on various websites and applications that could potentially harm the public,” stated the Financial Services Authority (OJK) in an official release on Wednesday (29/4/2026). The modus operandi of digital financial activities and scams reported by the public are diverse. OJK has recorded at least five methods. First, advertising services with a deposit system. This method offers income from simple activities such as giving reviews, watching ads, or clicking links, which then require a deposit with promises of multiplied returns. Second, duplication or imitation of licensed entity investment offers (impersonation). Perpetrators mimic the names, logos, or identities of legitimate financial service businesses to convince the public. However, these offers are not conducted by the authorised parties in question. Third, funding offers. This method provides funding for businesses or specific projects with promises of fixed returns, but without adequate explanations of the business model, agreements, or oversight. Fourth, money games. This scheme relies on recruiting new members (member get member) as the source of profit payments, rather than from real and sustainable business activities. Fifth, illegal cryptocurrency asset trading. This method offers investments or trading in cryptocurrency assets by parties that are not registered or do not have permission from the relevant authorities, often accompanied by claims of high returns without risk. “These methods are generally disseminated through social media, private messages, conversation groups, and other digital channels,” it explained. Satgas PASTI assures that it will continue to strengthen efforts to eradicate illegal financial activities and handle financial transaction fraud as part of consumer and public protection initiatives.