Online lending companies can be fined Rp15 billion for procedural violations

Ministry of Trade warns of sanctions up to the revocation of licences and a maximum fine of Rp15 billion for financial services providers (PUJK) found to permit debt-collection practices that contravene regulations. “Debt-collection methods that contravene the law and norms cannot be justified,” said Immanuel Tarigan Sibero, Director of Consumer Empowerment, Directorate General of Consumer Protection and Trade Compliance at the Ministry of Trade, in a written statement on Friday, 6 March 2026. Immanuel noted that consumers must know the terms and conditions in financial transactions and act in good faith in settling their obligations with business actors. He reminded that debt-collection methods that violate the law and norms cannot be justified. Those who feel harmed by improper debt collection can access official channels of the Financial Services Authority (OJK) via 157 or WhatsApp at 081157157157. He stressed that the Ministry will continue to cooperate with OJK and other related bodies to protect consumers from unethical debt-collection actions carried out by PUJK. This coordination is aimed at ensuring that the debt collection process for consumer obligations transacting with PUJK complies with the provisions of POJK No. 22 of 2023 on Consumer Protection and the Public Sector of the Financial Services. Deputy Director of Banking Consumer Services and Complaints at OJK, Budiwan Wijayanto, reminded that debt collection must be conducted in accordance with the provisions. The provisions include that a warning letter must precede debt collection. It can be conducted in cooperation with other entities that are legal entities, licensed and certified, and must not use threats, physical violence, or actions that humiliate consumers. Debt collection at the consumer’s residence is allowed only at times that are set, and officers must show identity and official legitimacy. PUJK is also fully responsible for the actions of third parties (debt collectors) working with them. Meanwhile, AFPI Executive Director Yasmine Meylia Sembiring committed to educate both PUJK under the association and consumers who use online lending services. Editor’s Pick: The online loans most widely used for consumption. What are they for?