Indonesia's PASTI Task Force Halts Illegal Operations of Universal Peak and BAFI Group

Jakarta – The Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) has ceased the business activities of Universal Peak, which is suspected of committing fraud through a stock investment scheme. The task force has also halted the operations of BAFI Group Indonesia, which offered unlicensed services to resolve issues with online loans (pinjol) and credit cards.

In addition to stopping their operations, Satgas PASTI has blocked access to related applications and website links. “Satgas PASTI will also coordinate with law enforcement officials for further legal proceedings,” said Hudiyanto, Head of the Satgas PASTI Secretariat, in an official statement in Jakarta, cited on Thursday, 18 June 2026.

The task force urged members of the public who have suffered losses to report to local law enforcement to expedite the handling process.

Universal Peak claimed to be part of Universal Peak Investment Inc., an entity licensed in Colorado. Satgas PASTI stated that Universal Peak is suspected of fraud through an investment scheme requiring deposit payments for stock investments and Initial Public Offering (IPO) shares to gain profits. Universal Peak allegedly provided fictitious IPO share allocations randomly to its members. Based on clarification and verification, Satgas PASTI confirmed that Universal Peak does not hold a licence from the Financial Services Authority (OJK). Furthermore, Universal Peak conducted business activities inconsistent with the permit issued by the Ministry of Investment and Downstreaming/BKPM. The application or website used is also not registered as an Electronic System Operator (PSE) with the Ministry of Communication and Digital Affairs.

Meanwhile, BAFI Group Indonesia offered consultancy services for online loan problems. One of its schemes involved directing victims to apply for new loans on other platforms using their personal data, after first instructing them to default on existing loans. BAFI Group Indonesia then promised to manage and settle the debts on all online loans, requesting a service fee from a portion of the disbursed loan funds.

In its publications, BAFI Group Indonesia claimed to be licensed and registered with the OJK. However, based on clarification and verification, BAFI Group Indonesia does not possess a licence from the OJK or other relevant regulators. Its business activities were also found to be inconsistent with the permit issued by the Ministry of Investment and Downstreaming/BKPM.