OJK Discloses Two Illegal Online Lending Issues Discussed during Cabinet Meeting
Translator
Dewi Elvia Muthiariny
Editor
Markus Wisnu Murti
Jumat, 20 Agustus 2021 14:41 WIB
TEMPO.CO, Jakarta - Financial Services Authority (OJK) Chairman Wimboh Santoso disclosed two issues related to illegal online lending services that had become the topic in the cabinet meeting. One of the issues is the illegal loan transaction carried out via banking channels, fund transfer companies, and applicators.
“That weakens the adoption of the Know Your Customer (KYC) principle,” said Wimboh at the signing event of a joint statement on the eradication of illegal online lending on Friday, August 20.
Other institutions and ministries involved in the joint statement included Bank Indonesia, the National Police, the Ministry of Cooperatives and SMEs, and the Ministry of Communication and Information.
The cabinet meeting also highlighted the issue of law enforcement against illegal lending providers. “[The existing policies] have not been able to give a significant deterrent effect to perpetrators,” said Wimboh.
OJK has published a list of 121 legal and registered illegal online loan platforms as of July 2021. The OJK’s Investment Alert Task Force has thus far received 7,128 complaints and shut 3,365 illegal loan platforms.
Read: 120 Online Lenders Not Registered with OJK
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