"During the period from 2018 to October 10, 2021, the authority has blocked 4,873 illegal fintech content on many social media platforms," Minister Plate stated at the virtual 2021 Financial Services Authority (OJK) Virtual Innovation Day from Jakarta on Wednesday.
The ministry has coordinated with the OJK, Bank Indonesia, as well as ministries and government departments to block illegal fintech content on social media, Plate remarked.
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The government and relevant stakeholders will impose a zero-tolerance policy against fintech content on social media found to have violated legal regulations, he emphasized.
"We have the duty to not tolerate illegal content violating legal regulations because we need to ensure digital spaces for the best interests of the public and our economic development," Plate stated.
The 4,873 illegal fintech content had been blocked from several platforms, such as websites, marketplaces, mobile applications, social media, or file-sharing sites, the minister revealed.
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Plate expressed optimism that law enforcement against illegal fintech social media content will encourage beneficial utilization of social media and digital platforms.
"We are optimistic that law enforcement in digital spaces would encourage legal fintech companies to produce content for the benefit of the public and in the nation's interests," the minister noted.
Plate urged electronic system operators and the public to contribute to digital infrastructure development and take requisite steps for preventing personal data leaks in addition to strengthening digital firewalls to tackle cyberattacks.
"Digital financial infrastructure should ensure safe and secure digital transactions," Plate stated.
Apart from the minister, the 2021 OJK Virtual Innovation Day was also attended by Deputy Chair of the OJK Commissioner Nurhaida and Bank Indonesia Governor Perry Warjiyo.
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