Satgas PASTI Halts Operations of AMG Pantheon and Mbastack Over Suspected Fraud Scheme
RADARBANDUNG.ID, JAKARTA – The Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) has halted the operations of AMG Pantheon and Mbastack Creative Advertising Limited (MBA), both of which are suspected of engaging in fraudulent activities by impersonating or misusing the names of licensed foreign companies.
AMG Pantheon
AMG Pantheon is suspected of impersonating Pantheon Ventures, an international investment advisory firm licensed in the United States, Singapore, and Japan.
“Pantheon Ventures does not conduct cryptocurrency asset trading in Indonesia and has no affiliation with any entity using the name AMG Pantheon,” stated the Secretariat of the Task Force for the Eradication of Illegal Financial Activities, Hudiyanto, in a press release on Wednesday (24 February).
Based on clarification and verification, AMG Pantheon’s activities in Indonesia appear to involve a fraudulent scheme through an application that offers daily trading activities, which are suspected to be fictitious.
These business activities do not comply with the permits issued by the Ministry of Investment and Downstreaming/BKPM. Furthermore, the applications and websites used are not registered as Electronic System Organisers (PSE) with the Ministry of Communication and Digital Affairs.
In practice, members are instructed to open accounts with registered Digital Financial Asset Traders (PAKD) in Indonesia and make deposits to purchase USDT (USD Tether).
These funds are then transferred to digital wallets owned by AMG Pantheon.
Subsequently, members are asked to register on the AMG Pantheon application to engage in daily trading activities, which are suspected to be fictitious.
Mbastack Creative Advertising Limited (MBA)
Mbastack Creative Advertising Limited (MBA) is suspected of impersonating MBAStack Limited, a licensed advertising agency based in the United Kingdom.
Clarification revealed that MBA is legally registered as a sole proprietorship based in Serang, Banten. However, its business activities do not comply with the permits issued by the Ministry of Investment and Downstreaming/BKPM and are not registered as a PSE with the Ministry of Communication and Digital Affairs.
MBA operates a multi-tiered member-get-member scheme that is suspected of being fraudulent. Members are required to make deposits to receive bonuses through a recruitment system.
There are no real products being traded. Members are only assigned to carry out hotel and tourist destination review activities through the application.
Satgas PASTI has halted the operations of AMG Pantheon and MBA and will block access to the applications and/or related links.
The Task Force is also coordinating with law enforcement agencies for further action.
Members of the public who believe they have been harmed are urged to report to local law enforcement agencies immediately. Satgas PASTI advises the public to be cautious of investment offers or financial activities that promise high and unrealistic returns, especially those using the names of foreign companies without clear legal standing in Indonesia.
Complaints regarding illegal online investments or loans can be submitted through the website sipasti.ojk.go.id, the OJK Contact Centre 157, WhatsApp 081157157157, or email [email protected].
Victims of financial transaction fraud can also report through the Indonesia Anti-Scam Centre (IASC) website to support the rapid blocking of perpetrators’ accounts. (nto)