OJK West Java urges public to check official authority websites to anticipate illegal online loans and investments
Bandung (ANTARA) - The Financial Services Authority (OJK) in West Java has urged the public to regularly check the websites of relevant authorities to anticipate offers that could trap them in online loans (pinjol) and illegal investments, including those disguised as sharia-compliant.
Head of the Behavioural Supervision Division for Financial Services Business Actors at OJK West Java, Muhammad Ikhsan, in Bandung on Saturday, explained that the public can access various authority websites to verify suspicious financial entities themselves.
“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 on Saturday.
The official websites mentioned include the OJK site for checking investment companies, fintech, and banking entities. 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.
“These 93 may include sharia-compliant ones in the future. And we continue to supervise those that are registered, licensed, and monitored,” he added.
OJK records show that public losses from illegal investments nationwide reached Rp142.22 trillion over the period from 2017 to the third quarter of 2025.
Meanwhile, total losses from illegal investments in 2025 up to the third quarter amounted to Rp201.73 billion. This figure comprises Rp96.67 billion still under investigation by law enforcement authorities (APH) and Rp106 billion that have received final court decisions.
The Indonesia Anti-Scam Centre (IASC), which serves as the hub for handling financial transaction scams, has received 22,447 scam reports since it began operations until 31 May 2025.
According to records from the Joint Task Force on Illegal Financial Services (Satgas PASTI), 2,617 illegal financial entities have been shut down. This includes 2,263 illegal online loans and 354 illegal investments, with West Java noted as number one in such cases.
Additionally, a total of 360,541 accounts reported in connection with scams have been identified, with 112,680 accounts blocked. Reported total losses amount to Rp8 trillion, while the total funds blocked stand at Rp387.8 billion.