PASTI Task Force Halts PT Econext Ventures Indonesia Operations

JAKARTA – The Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) has ordered PT Econext Ventures Indonesia (EVI) to cease its business activities. The company is suspected of offering investment opportunities with a scheme resembling multi-level marketing.

PT Econext Ventures Indonesia is alleged to have committed fraud by collecting public funds through investment offers in technology products, particularly the green economy, which were equated with securities crowdfunding. In its offering, PT EVI claimed it was in the process of obtaining a licence from the Financial Services Authority (OJK).

Based on the results of clarification and verification, it was found that PT EVI does not hold a licence from the OJK as a Securities Crowdfunding Organiser. The company was also conducting business activities inconsistent with the permit issued by the Ministry of Investment and Downstream Industry/BKPM. Furthermore, its application and website were not registered as an Electronic System Operator (PSE) with the Ministry of Communication and Digital Affairs, although it was registered as a member of the Indonesian Crowdfunding Services Association (ALUDI).

In connection with these findings, Satgas PASTI has halted PT EVI’s activities and will block access to the related application and/or website links. Meanwhile, ALUDI has revoked PT EVI’s membership status. Satgas PASTI will also coordinate with law enforcement officials for further prosecution.

Members of the public who have suffered losses are urged to immediately report to local law enforcement to expedite the handling process. Satgas PASTI once again appealed to the public to remain vigilant against investment or financial activity offers that promise unreasonably high returns, especially those claiming to be in the process of obtaining a licence from the OJK.

If members of the public find indications of similar offers, illegal investments, or illegal online loans, they can report them through the website sipasti.ojk.go.id, via OJK Contact 157, WhatsApp at 081157157157, or email konsumen@ojk.go.id. Meanwhile, victims of financial transaction fraud can report through the Indonesia Anti-Scam Centre (IASC) website at iasc.ojk.go.id to support efforts to swiftly block the perpetrator’s accounts.