Impersonation scheme: PASTI Task Force halts operations of AMG Pantheon and MBA

Jakarta (ANTARA) - The Illegal Financial Activities Eradication Task Force (Satgas PASTI) has halted the business operations of AMG Pantheon and Mbastack Periklanan Kreatif Terbatas (MBA) on suspicion of committing fraud through impersonation, or the misuse of licensed foreign company names.

Satgas PASTI Secretariat Chairman Hudiyanto stated that in addition to ceasing business operations, the task force would also block access to the associated applications and/or URLs.

“Satgas PASTI will also coordinate with law enforcement authorities for further enforcement action,” Hudiyanto said in a statement in Jakarta on Monday.

Pantheon Ventures does not conduct crypto asset trading activities in Indonesia and has no connection to the entity operating under the name AMG Pantheon.

Based on clarification and verification findings, AMG Pantheon’s activities in Indonesia are indicated to involve a fraud scheme through an application used to offer daily trading activities suspected of being fictitious.

AMG Pantheon was found to be conducting business activities that do not comply with the licence issued by the Ministry of Investment and Downstreaming/BKPM, and the application/website used is not registered as an Electronic System Operator (PSE) with the Ministry of Communications and Digital Affairs.