OJK West Java Provides Tips to Anticipate Illegal Online Loan Traps
The Financial Services Authority (OJK) West Java has urged the public to diligently check the websites of relevant authorities to anticipate offers of online loans (pinjol) that could potentially trap them, including those disguised as Sharia-compliant.
Head of the Behavioural Supervision Division for Financial Services Business Actors at OJK West Java, Muhammad Ikhsan, explained that the public can access websites from various authorities to verify themselves when receiving offers from suspicious financial entities.
“We can check on the website. For example, on the OJK website, we can find out which online loans are licensed and supervised,” he said during the 10th Jabar Islamic Economic Forum (JIEF) in Bandung, West Java, on Saturday, 11 April 2026, as reported by Antara.
The official websites mentioned include the OJK site for checking investment companies, fintech, and banking. Then, the Commodity Futures Trading Regulatory Agency (Bappebti) website for verifying forex, commodity, and crypto investment licences, as well as the Indonesia Stock Exchange website for checking the legality of stock brokers or securities.
Regarding online loans, Ikhsan stated that there are currently 93 entities registered and operating officially under OJK supervision. “Of those 93, there might be some that are Sharia-compliant in the future. And we continue to supervise those that are registered, licensed, and monitored,” he added.
OJK records show that public losses due to illegal investments nationally reached Rp 142.22 trillion from 2017 to the third quarter of 2025.
Meanwhile, total losses from illegal investments throughout 2025 up to the third quarter were recorded at Rp 201.73 billion. This figure consists of Rp 96.67 billion still in the process of handling by law enforcement authorities (APH) and Rp 106 billion that have received final court decisions.
The Indonesia Anti-Scam Centre (IASC), which functions as a centre for handling financial transaction scams, has received 22,447 scam reports since it began operating until 31 May 2025.
Based on records from the PASTI Task Force, 2,617 illegal financial entities have been shut down. This number consists of 2,263 illegal online loans and 354 illegal investments, with West Java said to be number one.
In addition, the total accounts reported related to scams reached 360,541 accounts, with 112,680 accounts already blocked. The total reported losses amount to Rp 8 trillion, and the total funds blocked stand at Rp 387.8 billion.