KPPU Uncovers Dirty Practices in Online Loans, Fines 97 Fintech Companies Rp755 Billion
Jakarta – The Head of the Public Relations and Cooperation Bureau of the Commission for the Supervision of Business Competition (KPPU), Deswin Nur, stated that his institution has imposed significant sanctions on dozens of online loan (pinjol) companies in a case concerning interest rate determination. The decision was read out during the hearing of Case No. 05/KPPU-I/2025 held in Jakarta on Thursday, 26 March 2026.
“This case relates to alleged violations of Article 5 of Law No. 5 of 1999,” said Deswin on Friday (27/3/2026).
The hearing took place in the RB Supardan Building Hearing Room and was chaired by Rhido Rusmadi as the Chairman of the Commission Panel, along with members M. Fanshurullah Asa, Aru Armando, M. Noor Rofieq, Gopprera Panggabean, Hilman Pujana, Mohammad Reza, Eugenia Mardanugraha, and Budi Joyo Santoso. This decision is one of the largest cases ever handled by the KPPU, both in terms of the number of respondents and its impact on society.
The Commission Panel stated that 97 peer-to-peer lending (P2P) fintech business actors were legally and convincingly proven to have violated business competition rules, particularly regarding the determination of prices or loan interest rates.
“Respondents I through XCVII were legally and convincingly proven to have violated Article 5,” said Deswin.
In its verdict, the KPPU imposed a fine totalling Rp755 billion on all respondents. This amount is the accumulation of fines levied on each company.
Online Loan Interest Schemes
Cases of online loan offers with low interest rates have previously ensnared victims with misleading schemes. Initially, victims were offered interest of just 2 percent, which appeared light and enticing.
However, after the loan was underway, it was revealed that this figure was daily interest. This means that over a period of one month or 30 days, the interest payable would surge to 60 percent.
In permitted practices, legal fintech funding platforms set a maximum daily interest rate of 0.8 percent. If calculated over one month, the upper limit of this interest equates to 24 percent.
Nevertheless, not all platforms set interest as high as that. Several loan providers offer interest below the threshold, with some even approaching zero percent for certain tenors.
The regulation of interest rate levels is fundamentally not directly set by the Financial Services Authority (OJK), but is left to each platform. However, the Indonesia Joint Funding Fintech Association, as the official association, has established a code of ethics stating that daily interest must not exceed 0.8 percent.
List of 97 Fintech Companies Sanctioned
PT Abadi Sejahtera Finansindo
PT Adiwisista Finansial Teknologi
PT Akseleran Keuangan Inklusif Indonesia
PT Aktivaku Investama Teknologi
PT Alami Fintek Sharia
PT Aman Cermat Cepat
PT Amartha Mikro Fintek
PT Ammana Fintek Syariah
PT Anugerah Digital Indonesia
PT Artha Dana Teknologi
PT Artha Permata Makmur
PT Astra Welab Digital Arta
PT Berdayakan Usaha Indonesia
PT Bursa Akselerasi
PT Cerita Teknologi Indonesia (formerly PT Cerita Investasi Teknologi Indonesia)
PT Cicil Solusi Mitra Teknologi
PT Creative Mobile Adventure
PT Crowde Membangun Bangsa
PT Dana Bagus Indonesia
PT Dana Kini Indonesia
PT Dana Pinjaman Inklusif
PT Dana Syariah Indonesia
PT Digital Micro Indonesia
PT Doeku Peduli Indonesia
PT Duha Madani Syariah
PT Esta Kapital Fintek
PT Ethis Fintek Indonesia
PT Fidac Inovasi Teknologi
PT Finansia Aira Teknologi
PT Finansial Integrasi Teknologi
PT Fintech Bina Bangsa (formerly PT Dana Bina Bangsa)
PT Fintegra Homido Indonesia
PT Fintek Digital Indonesia (formerly PT Fintek Digital Ventura Indonesia)
PT Gradana Teknoruci Indonesia
PT Grha Dana Bersama
PT Harapan Fintech Indonesia
PT Idana Solusi Sejahtera
PT Iki Karunia Indonesia (formerly PT Iki Dana Indonesia)
PT Inclusive Finance Group
PT Indo Fin Tek
PT Indonesia Fintopia Technology
PT Indonusa Bara Sejahtera
PT Indosaku Digital Teknologi (formerly PT Sens Teknologi Indonesia)
PT Info Tekno Siaga
PT Inovasi Terdepan Nusantara
PT Intekno Raya
PT Julo Teknologi Finansial
PT Kawan Cicil Teknologi Utama
PT Klikcair Magga Jaya
PT Komunal Finansial Indonesia
PT Kreasi Anak Indonesia
PT Kredifazz Digital Indonesia (formerly PT Finaccel Digital Indonesia)
PT Kredit Pintar Indonesia
PT Kredit Plus Teknologi
PT Kredit Utama Fintech Indonesia
PT Kreditku Teknologi Indonesia
PT Kuaikuai Tech Indonesia
PT Lampung Berkah Finansial Teknologi
PT Pindar Berbagi Bersama (formerly PT Layanan Keuangan Berbagi)
PT Lentera Dana Nusantara
PT Linkaja Modalin Nusantara (formerly PT Igrow Resources Indonesia)
PT Lumbung Dana Indonesia
PT Lunaria Annua Teknologi
PT Mapan Global Reksa
PT Mediator Komunitas Indonesia
PT Mekar Investama Teknologi (formerly PT Mekar Investama Sampoerna)
PT Mitrausaha Indonesia Grup
PT Modal Rakyat Indonesia
PT Mulia Inovasi Digital
PT Oriente Mas Sejahtera
PT Pasar Dana Pinjaman (formerly PT Komunindo Arga Digital)
PT Pembiayaan Digital Indonesia
PT Pendanaan Teknologi Nusa
PT Pinduit Teknologi Indonesia
PT Pinjaman Kemakmuran Rakyat
PT Pintar Inovasi Digital
PT Piranti Alphabet Perkasa
PT Plus Ultra Abadi (formerly PT Fintech Uangsaku Indonesia)
PT Pohon Dana Indonesia
PT Progo Puncak Group
PT Qazwa Mitra Hasanah
PT Rezeki Bersama Teknologi
PT Ringan Teknologi Indonesia (formerly PT Lufax Technology Indonesia)
PT Sahabat Mikro Fintek
PT Satustop Finansial Solusi
PT Sejahtera Sama Kita
PT Simplefi Teknologi Indonesia
PT Smartec Teknologi Indonesia
PT Sol Mitra Fintec
PT Solid Fintek Indonesia
PT Solusi Teknologi Finansial
PT Stanford Teknologi Indonesia
PT Teknologi Merlin Sejahtera
PT Toko Modal Mitra Usaha
PT Tri Digi Fin
PT Trust Teknologi Finansial
PT Uangme Fintek Indonesia