OJK Task Force Shuts Down 27 Illegal Pawnshops and 228 Unlicensed Crypto Traders

The Task Force for the Eradication of Illegal Financial Activities (Satgas Pasti) has ceased the operations of 27 illegal private pawnshops between April and May 2026. Secretariat of the Task Force for the Eradication of Illegal Financial Activities, Hudiyanto, stated that the closures were carried out based on Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK). According to Article 319 of the P2SK Law, all pawnshop businesses are required to fulfil licensing requirements by 12 January 2026 at the latest. Illegal pawnshop activities pose a potential risk of loss to the public due to high interest rates, unclear agreements, and weak protection of collateral items and consumers. Additionally, Satgas Pasti has shut down 228 illegal digital financial asset traders throughout 2026 up to May. Hudiyanto explained that there has been a recent surge in unlicensed entities offering cryptocurrency investments through social media, chat groups, or websites without official authorisation. The common modus operandi involves promising fixed returns, multiple bonuses, and ‘passive income’ without risk, all while lacking adequate consumer protection mechanisms. The Task Force urges the public to understand the following points before investing in crypto assets: ensure the legality of the party offering the investment and confirm they hold a permit from the relevant authority; verify that the traded crypto asset is included in the official list of crypto assets (DAK); avoid offers with illogical schemes; conduct research and understand the risks of crypto assets before investing; and learn more about crypto assets through the provided link at https://bukusakuiakd.com/.