Bappebti Blocks 114 Illegal Futures Broker Sites

TEMPO.CO, Jakarta - The Trade Ministry's Futures Exchange Supervisory Board (Bappebti) has blocked 114 websites of unlicensed futures brokers in April 2020. Trade Minister Agus Suparmanto said that as of April 2020, 217 domain sites had been blocked by Bappebti.

"The Covid-19 pandemic does not weaken Bappebti's commitment to preventing financial loss among the public as a result of legal violations in the field of commodity futures trading," Agus said in a written statement Thursday, May 7.

Bappepti head Tjahya Widayanti said that although employees are currently working from home, they continue to monitor and observe futures trades without permits.

"In addition to blocking domains, Bappebti will block the media used to promote their businesses, including social media such as YouTube," said Tjahya.

Bappebti's head of legislation and enforcement division, M Syist, said that in addition to shutting down illegal sites acting as introducing brokers, the board also blocks site that facilitates opening accounts with foreign brokers. Some of them said they only provide information and news about futures trading, but Bappebti noted that they direct visitors to create accounts with overseas brokers.

"This is prohibited because it violates the provisions of the legislation in the field of commodity futures," said M Syist.

M Syst said that in addition to offering investment in currencies, stock indices, and commodities, investment offers are currently disguising as crypto mining. These, he said, are potential scams.

Muhammad Hendartyo