PASTI Task Force Halts Operations of Universal Peak and BAFI Group Indonesia
The Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) has halted the business activities of Universal Peak and BAFI Group Indonesia, which are suspected of conducting illegal financial operations. Both entities were found to be operating without licences from the relevant authorities and potentially harming the public.
Satgas PASTI Secretariat Hudiyanto explained that Universal Peak is suspected of committing fraud through a scheme offering stock investments and Initial Public Offering (IPO) share purchases. The company claimed to be part of Universal Peak Investment Inc., an entity purportedly licensed in Colorado, United States. However, clarification and verification by Satgas PASTI found that Universal Peak does not hold a licence from the Financial Services Authority (OJK). Furthermore, its business activities do not align with the licence issued by the Ministry of Investment and Downstreaming/BKPM, and its applications and websites have not been registered as Electronic System Operators (PSE) with the Ministry of Communication and Digital Affairs.
“Universal Peak is suspected of offering investments through a fund deposit scheme to obtain profits from stock investments and IPO shares. In practice, the company allegedly provided fictitious IPO share purchase allocations randomly to its members,” Hudiyanto stated.
In addition to Universal Peak, Satgas PASTI also halted the activities of BAFI Group Indonesia, which offered services to resolve online loan (pinjol) and credit card issues without an official licence. In practice, BAFI Group Indonesia offered a scheme directing consumers to apply for new loans through other platforms using the victims’ personal data. Victims were then instructed to deliberately default, while BAFI Group Indonesia promised to handle the settlement of all online loan debts in exchange for a fee taken from a portion of the disbursed loan funds.
Although its publications claimed to be licensed and registered with OJK, Satgas PASTI’s verification confirmed that BAFI Group Indonesia does not hold a licence from OJK or other relevant regulators. Its business activities also do not comply with the licensing issued by the Ministry of Investment and Downstreaming/BKPM.
Based on these findings, Satgas PASTI has taken steps to cease the business activities of Universal Peak and BAFI Group Indonesia and has blocked access to the applications and URLs associated with both entities. The task force will also coordinate with law enforcement for further legal proceedings. Members of the public who have suffered losses from the activities of these two entities are urged to report immediately to local law enforcement so that the handling process can be expedited.
Hudiyanto reminded the public to be more cautious of investment offers promising unreasonably high returns, especially those claiming to represent foreign companies. The public is also advised to be wary of parties offering online loan settlement services by directing consumers to take out new loans or deliberately default. Furthermore, the public is urged not to easily trust the display of logos or claims of being licensed by OJK or other agencies without conducting independent checks and verification.
If members of the public find indications of illegal investments, illegal online loans, or suspicious financial service offers, they can report them through the SIPASTI service, OJK Contact 157, WhatsApp 081157157157, or email konsumen@ojk.go.id. Meanwhile, victims of financial transaction fraud can also submit reports through the Indonesia Anti-Scam Centre (IASC) to support the acceleration of blocking perpetrator accounts and increase the chances of fund recovery.