PPATK: No Guarantee for Illegal Investment Victims to Get Their Money Back

 TEMPO.CO, Jakarta - The Financial Transaction Reports and Analysis Centre (PPATK) head Ivan Yustiavandana said he could not ensure that victims of investment fraud cases, such as Binomo, Quotex, and Fahrenheit, could get all of their money back.

Ivan explained that based on a number of similar cases handled by PPATK, including the First Travel or Sky Blue Cooperative cases, the victims’ money just disappeared because it was used for the personal benefit of the suspects, instead of for profitable businesses as they claimed.

“In several similar cases, the money is gone,” said Ivan in a hearing with the Commission III of the House of Representatives (DPR) in Jakarta, on Monday, April 5.

However, Ivan said PPATK has made efforts to suspend the bank accounts involved in the case. To date, PPATK has blocked 345 accounts belonging to 78 people suspected of being involved in illegal investments. The value reached Rp588 billion.

“So we can't promise anything to the public, but there is nearly Rp600 billion in the 345 bank accounts we've frozen,” he reported.

Ivan argued that the figure is still relatively small from the total value reported by financial service providers. Ivan said that of the 560 suspicious transaction reports received by PPATK in this case, the value amounted to Rp35.76 trillion.

Read: Police Share 3 Tips to Avoid Investment Fraud

ARRIJAL RACHMAN