Suspected Fraud: Offering Loan Default Services, Operations of 2 Companies Halted!
The business activities of Universal Peak and BAFI Group Indonesia have been temporarily halted by the Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI). Both companies are suspected of committing fraud through stock investment schemes and offering unlicensed services for defaulting on online loans and credit cards.
“Satgas PASTI has stopped the business activities of Universal Peak, which is suspected of committing fraud through a stock investment scheme, and BAFI Group Indonesia, which offers services to resolve online loan and credit card problems without a licence from the competent authority,” stated an official release from Satgas PASTI on Thursday (18/6/2026).
According to Satgas PASTI’s findings, Universal Peak claimed to be part of Universal Peak Investment Inc., a licensed financial entity in Colorado. However, its operations in Indonesia were running without a licence. Universal Peak is further suspected of committing fraud through an investment scheme involving deposit payments for stock investments and Initial Public Offering shares to obtain profits. Universal Peak allegedly provided fictitious IPO share purchase allocations randomly to its members.
Based on the results of clarification and verification, it was found that Universal Peak does not have a licence from the Financial Services Authority (OJK), conducts business activities inconsistent with the licence issued by the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM), and the application/website used is not registered as an Electronic System Operator (PSE) with the Ministry of Communication and Digital Affairs.
Meanwhile, BAFI Group Indonesia, whose business practices were also halted by Satgas PASTI, offered consultation services for online loan problems, also known as defaulting. One of the schemes offered involved applying for a new loan on another platform using the victim’s personal data. Victims were directed to default first. Subsequently, BAFI Group Indonesia promised to manage and settle the debts on all online loans and requested a service fee from a portion of the disbursed loan funds.
In its publications, BAFI Group Indonesia claimed to be licensed and registered with the OJK. However, clarification and verification revealed that BAFI Group Indonesia does not have a licence from the OJK or other relevant regulators and conducts business activities inconsistent with the licensing issued by the Ministry of Investment and Downstreaming/BKPM.
Satgas PASTI has halted the activities of Universal Peak and BAFI Group Indonesia and blocked access to the applications and/or links (URLs) related to these two entities. Satgas PASTI will also coordinate with law enforcement officials for further prosecution. “Members of the public who feel they have been harmed are requested to immediately report to local law enforcement officials to expedite the handling process,” wrote Satgas PASTI.
If members of the public find indications of similar offers, illegal investments, or illegal online loans, they can report them through the SIPASTI website at sipasti.ojk.go.id or via OJK Contact 157, WhatsApp 081157157157, and email konsumen@ojk.go.id.