Public Urged to Beware of Illegal Investment and Loan Settlement Schemes
The Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) has taken firm action by halting the business activities of Universal Peak and BAFI Group Indonesia, which are suspected of running illegal financial operations. Both entities are considered potentially harmful to the public through unlicensed stock investment schemes and online loan settlement services.
Satgas PASTI Secretary Hudiyanto stated that the cessation is part of ongoing efforts to protect the public from increasingly diverse illegal financial practices. He explained that Universal Peak claimed to be part of Universal Peak Investment Inc., an entity purportedly licensed in Colorado, United States. In its operations, the company offered stock and Initial Public Offering (IPO) investments with a deposit scheme, promising profits to its members.
Based on clarification and verification by Satgas PASTI, Universal Peak does not hold a licence from the Financial Services Authority (OJK). Furthermore, its business activities do not align with the permit issued by the Ministry of Investment and Downstream Industry/BKPM, and its application and website are not registered as an Electronic System Operator (PSE) with the Ministry of Communication and Digital Affairs. The task force also found indications of fictitious IPO share purchase allocations being given to members.
Meanwhile, BAFI Group Indonesia offered consultation services for resolving online loan issues. In practice, the company directed consumers to apply for new loans on other platforms using the victims’ personal data, then instructed the victims to deliberately default. BAFI Group Indonesia subsequently promised to settle all online loan debts in exchange for a service fee taken from a portion of the newly disbursed loan funds. Despite promotional materials claiming OJK licensing and registration, the task force’s examination confirmed the company holds no licence from the OJK or other relevant regulators and operates outside its permitted scope. The public is urged to verify the legality of any party offering investments or financial services through official OJK channels.