In 2021, OJK again blocked 79 illegal investments, 442 illegal online loans, and 17 illegal mortgages that harmed the public.
Jakarta (ANTARA) - Financial Services Authority's (OJK's) Investment Alert Task Force Chairman Tongam L. Tobing highlighted that public losses due to illegal investments, online loan frauds, and illegal pawnshops had amounted to Rp117 trillion for the 2011-2020 period.

"If we look at the Task Force's current data that we have handled in the last decade, public's losses had reached Rp117 trillion. This is a considerable figure caused by perpetrators, who are detrimental to society," Tobing stressed during a virtual discussion here, Thursday.

Tobing detailed the biggest public losses occurred in 2011, with mislaid total funds reaching Rp68.6 trillion. To this end, he ensured that unwavering efforts would be made to crack down on illegal investment criminals, who are detrimental to the community.

"These illegal investments can tarnish investor confidence to invest in the capital market. We need to eradicate these crimes together," he affirmed.

He also revealed that in 2020, the amount of public losses had decreased to Rp5.9 trillion. Meanwhile, until July 2021, Tobing noted that investment entities, online loan frauds, and illegal pawnshops had continued to cause losses to consumers to the tune of up to Rp2.5 trillion.

"Their offers do not stop. The perpetrators always give sweet promises to the public through various ways, so people seeking profits would eventually suffer losses," the chairman observed.

Related news: Investment Alert Task Force records 127 legal online lending services

In 2017, the OJK had handled 79 illegal investment entities. In 2018, the OJK blocked as many as 106 illegal investment entities and 404 illegal online loans that began to grow, he noted.

Furthermore, in 2019, the OJK blocked 442 illegal investments, 1,493 illegal online loans, and 68 illegal pawnshops. Meanwhile, by 2020, there were 247 illegal investments, 1,026 illegal online loans, and 75 illegal mortgages handled by OJK's Alert Task Force.

Lastly, in 2021, the OJK again blocked 79 illegal investments, 442 illegal online loans, and 17 illegal mortgages that harmed the public, he revealed.

"We continue to face problems in eradicating illegal investments because if we block and announce them to the public, they would easily run under a new name and make fake offers again through any means," Tobing pointed out.

With such developments, he promised that the Investment Alert Task Force will always strive to track illegal investments before the public falls prey to them. Related news: Task Force finds 133 illegal P2P fintech, 14 illegal businesses
Related news: SWI reveals 388 illegal lending fintech entities

Translator: Sanya S, Kenzu T
Editor: Suharto
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