We will not weaken the operation but continue to familiarize the public with fintech lending services before they decide to use it
Jakarta (ANTARA) - The Investment Alert Task Force (SWI) has uncovered 388 illegal peer-to-peer lending fintech (financial technology) entities in February and March that brought the total number to 508 since January. Earlier in January, the task force has found 120 entities that operated illegal lending fintech entities, not registered with the Financial Service Authority (OJK), SWI head Tongam L Tobing said in a statement here Saturday.

The task force has handled 2,406 entities from 2018 to March 2020, he added.

In 2019, the SWI suspended the activities of 1.494 illegal peer-to-peer lending activities.

"We will not weaken the operation but continue to familiarize the public with fintech lending services before they decide to use it," he remarked.

He called on the public to check the validity of the license or registration of these entities.

"People should seek information and contact the OJK on line 157 or the WhatsApp number 081157157157 or email konsumen@ojk.go.id and waspadainvestasi@ojk.go.id," he said.

People can also check the list of registered lending fintech entities on OJK’s official website, he added.

The task force that involved 13 ministries and institutions would continue the crackdown, Tobing said.

It has regularly asked the Communication and Informatics Ministry to block certain websites and applications. It also closed the financial access to illegal fintech entities and reported the case to the police for further legal action.

Related news: Ministry blocks 4,020 illegal fintech in 2018-2019
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Translator: Ahmad Buchori, Sri Haryati
Editor: Rahmad Nasution
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