The Ministry lauded the initiative to eradicate illegal online lending to strengthen financial consumer protection
Jakarta (ANTARA) - Communication and Informatics Minister Johnny G. Plate praised the related stakeholders' efforts to eradicate online loan fraud activities through the signing of a joint statement on Friday afternoon.

"The Ministry lauded the initiative to eradicate illegal online lending to strengthen financial consumer protection," Plate stated during a virtual signing of joint statement for the eradication of illegal online lending.

The signing was conducted by Chairman of the Financial Services Authority (OJK) Board of Commissioners Wimboh Santoso, Governor of Bank Indonesia Perry Warjiyo, Minister of Cooperatives and Small and Medium Enterprises Teten Masduki, Minister Plate, and the Indonesian National Police represented by Head of the National Police Criminal Investigation Agency Commissioner General Agus Andrianto.

Plate reminded people to be careful while using financial technology (fintech)-based peer-to-peer lending that may link to various online threats, such as victim manipulation, information hacking through wiretapping method, or the perpetrator's mode of urging victims to make transactions into other people's accounts.

The ministry has, so far, taken several precautionary measures against these online threats by equipping the public through the National Digital Literacy Movement and cutting access to illegal online loans directly or through the App Store or Play Store.

From 2018 to August 17, 2021, the ministry has cut off access to 3856 fintech-related content that violated laws and regulations, including unlicensed or illegal online lending platforms.

"We emphasize here that we will be very strict and will not compromise over violations committed in the financial sector," Plate stated.

In addition, the ministry safeguards users' personal data and handles any indications of personal data leakage as well as issues clarifications on hoaxes through cross-party collaboration with related institutions, including the OJK, BSSN, National Police, the Attorney General Office, Ministry of Home Affairs, Ministry of Trade, Ministry of Education and Culture, Ministry of Education and Technology, Ministry of investment and PPATK, as well as other relevant ministries.

Johnny noted that as of last June, around 25.3 million people were covered by peer-to-peer lending fintech services, higher than 24.7 million people reached in January 2021.

Related news: P2P lenders asked to report to OJK from April 1
Related news: Task Force finds 133 illegal P2P fintech, 14 illegal businesses
Related news: Fintech can help streamline social aid delivery: observer

Translator: Lia S, Resinta S
Editor: Sri Haryati
Copyright © ANTARA 2021