PASTI Task Force Halts PT Econext Ventures Indonesia Over Suspected Green Investment Scam
The Task Force for the Eradication of Illegal Financial Activities (PASTI) halted the operations of PT Econext Ventures Indonesia (EVI) on Thursday, 16 July 2026, after discovering the company was running an illegal investment scheme that equated green economy products with securities crowdfunding without an OJK licence. The task force will also block the company’s application and related URLs. PT EVI did not hold a licence from the Financial Services Authority (OJK) as a securities crowdfunding provider. Its business violated the terms of its licence from the Ministry of Investment and Downstreaming, and it was not registered as an Electronic System Provider (PSE). The Indonesian Crowdfunding Services Association (ALUDI) revoked PT EVI’s membership on the same day. Members of the public who have suffered losses are urged to report them via the sipasti.ojk.go.id website or the Indonesia Anti-Scam Centre (IASC).
Satgas PASTI determined that EVI was running a fraudulent investment scheme because the company collected public funds by promising high returns on green economy technology products treated as securities crowdfunding, despite lacking an official licence. Verification showed EVI was not registered with the OJK, violated provisions issued by the Ministry of Investment, and was not registered as an Electronic System Provider. Detik reported that EVI even claimed to be in the process of obtaining an OJK licence, but the task force found no evidence of such a licence. This enforcement action underscores that Indonesian financial authorities are serious about cracking down on multi-level marketing schemes disguised as green investments, protecting investors from potential major losses.
PT EVI failed to meet three main licensing requirements: first, it did not have an OJK licence as a Securities Crowdfunding Provider; second, its business did not conform to the licence issued by the Ministry of Investment and Downstreaming/BKPM; third, the digital platform used was not registered as an Electronic System Provider (PSE) with the Ministry of Communication and Digital Affairs. Pasardana noted that without an OJK licence, a company is not entitled to collect public funds through crowdfunding schemes, and the non-conformity with the Ministry of Investment licence indicates a violation of business law. Furthermore, the absence of PSE registration means EVI’s application or website was not officially registered, so its security for users could not be guaranteed. The lack of these three licences rendered all of EVI’s fundraising activities illegal and paved the way for law enforcement sanctions.
Satgas PASTI has shut down all of PT EVI’s operations and plans to block access to the associated application and URLs, while preparing further enforcement proceedings with law enforcement officials. Additionally, the Indonesian Crowdfunding Services Association (ALUDI) revoked EVI’s membership on the same day, signalling the industry’s rejection of the company’s practices. Both sources, Detik and Pasardana, reported that Satgas PASTI also urged the public to report similar cases through the sipasti.ojk.go.id portal, the 157 hotline, or the WhatsApp number 081157157157, and advised fraud victims to report to the Indonesia Anti-Scam Centre (IASC). This integrated approach strengthens consumer protection mechanisms, affirms the regulatory commitment to eradicating illegal investments, and is expected to accelerate the blocking of accounts and legal action against perpetrators.