TEMPO.CO, Jakarta - The Financial Services Authority's (OJK) Investment Alert Task Force has shut down the businesses of 43 investment companies operating without a license. These illegal businesses are considered a threat to the public's financial safety.
The 43 illegal businesses comprised of 38 forex traders, two money game investments, two multi level marketing, and a stock broker.
The Task Force also ceased the operations of 140 P2p fintechs lenders operating without permits from the OJK.
The Task Force's chief, Tongam L. Tobing, said that illegal investments have become increasingly worrisome and dangerous to the people's finances. The actors are making use of the public's low financial knowledge by offering investments with unreasonable yields.
"The products and activities they offer are unlicensed, and their aim is to gain as many profits possible from the public, Tongam said on Wednesday, July 3.
Tongam reminded the public to invest their money wisely, and always check whether a business is registered with the OJK.