Here's How to Report Illegal Fintech Safely – Do you know how to report illegal fintech? Recently, the Financial Services Authority (OJK) has advised residents to always take advantage of legal financial lending technology services or fintech lending when they need funds.

In difficult economic conditions, especially due to the current epidemic, people are prone to becoming victims of fraud along with the increase in fraudulent practices that are the most costly. One thing that often happens is recognition as marketing from a fintech lending company by offering a certain amount of money owed.

Chairman of the Indonesian Joint Funding Fintech Association (AFPI) Adrian Gunadi explained, currently many fraudsters are operating by taking advantage of difficult economic conditions. This situation makes it easy for people to be tempted to take offers that are actually deliberately engineered or in such a way that they turn into attractive products or services.

How to Report Illegal Fintech

"I ask residents to be vigilant when accepting offers from fintech lending companies because many of us are victims of fraud on behalf of fintech lending.

Simultaneously with the increasingly hectic activities of fintech lending that are not registered or licensed at the OJK, residents must increase their vigilance so they are not entangled and have problems with illegal fintech lending debt services. Residents can first check the legality through the official page.

But if you have problems or are entangled with illegal fintech lending offers or services, it is highly recommended to immediately submit them to the OJK and the authorities by following these steps.

First, collect evidence of intimidation, terror, bullying, harassment, or other unpleasant things. Submit a report on the evidence by visiting the nearest police station to make a report.

Or you can also send the complaint to the official OJK website or contact OJK Contact customer service 157. OJK Contact 157 customer service can also be used for residents who want to identify Registered Fintech or Not the Financial Services Authority and the details. Or submit a report to the official AFPI website.

Characteristics of Illegal Fintech Lending

So that you are still alert and not entangled, here are a few characteristics of illegal fintech lending that need to be avoided by the general public and business people, namely:

  • The company does not have a permit from OJK.
  • The company is not registered as a member of the Indonesian Joint Funding Fintech Association (AFPI) as a legal association that oversees this industry.
  • Fintech companies charge huge fees and fines and are not transparent.
  • Fintech companies are not subject to OJK Regulations (POJK) and potentially not subject to other applicable provisions and laws.
  • Fintech companies do not yet have experience in conducting fintech operations.
  • Fintech companies do not follow ethical and equal billing procedures. Billing often takes place in a number of abusive ways, tends to threaten, is inhumane, and is against the law.

The points above are only a few of the 14 characteristics detected by OJK. Complete information can be accessed on the official OJK page.

Characteristics of Illegal Fintech Lending

Fintech Fraud Mode

Meanwhile, in preventing the risk of fraud, Adrian told several modes of fraud on behalf of fintech that often take place, one of which is:

  • SMS blast: offers fast, easy, and collateral-free loans via SMS blast from an ordinary cellphone number.
  • The contents of the SMS usually plainly say 'Need Funds Quickly Without Collateral and Low Interest, Fast Process, and Easy to Contact XXX'. If you receive an SMS like this, it is really advisable to ignore it and if it bothers you, residents can submit a report to the FCC OJK service at 1-500-655 or the authorities or the Police.
  • Low interest: offering really low interest is a fraudster's mode of holding potential victims and ends up following the fraudster's offer. It should be noted that determining debt interest must always follow the provisions and obtain approval from the OJK.

Currently, the current market interest for debt from fintech is between 16 % to 30 % per year for productive debt and optimally 0.8 % per day for short term debt (payday loans).

Rewards: if there are actors who offer debt products and one of the conditions is that they have to pay a certain amount to process applying for debt, this is reasonable to suspect. In fact, it can almost be confirmed that it is fraud because employees of financial institutions are not allowed to accept any compensation from customers and it is a serious violation if done.

"The 3 modes are the ones that are often used by fraudsters and it's a shame there are lots of people who suffer big losses because of that. If residents want to apply for good debt for business capital or individual needs, it is highly recommended to borrow through legal fintech lending that has obtained permission from the OJK and is a member of AFPI," he explained.

"We emphasize that fintech lending companies that are registered as AFPI members must comply with the Code of Ethics which controls several operational factors such as interest limits, billing steps, and others. If you violate, you will be subject to severe threats, "concluded Adrian.


The following is a question and answer session:

How to Report Illegal Fintech

To report illegal online loans, file a complaint with the police for a court case via the page or send a complaint to the email address [email protected] that is

Where to Report Illegal Fintech

Can Illegal Fintech Be Brought To Legal Realm

Next, administrator illegal fintech will be prosecuted if a criminal element is found. Deputy Chairperson of the Indonesian Joint Funding Fintech Association (AFPI), Sunu Widyatmoko, agreed that people should only use fintech lending services registered with the OJK.

How to Report Online Loan Fraud?

There are three ways you can do to combat online loan fraud, namely:

  1. Report to Police
  2. Report to the Investment Alert Task Force
  3. Report to Kominfo

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