Here's How to Report Illegal Fintech Safely

Lovata Andrean

Report Illegal Fintech Immediately
Report Illegal Fintech Immediately

Rancakmedia.com – Do you know how to report illegal fintech? Recently, the Financial Services Authority (OJK) has advised citizens to always use legal financial technology services or fintech lending if they need funds.

In difficult economic conditions, especially due to the current pandemic, people are vulnerable to becoming victims of fraud as fraudulent practices increase which can cause the most losses. One of the things that often happens is claiming to be a marketing company for fintech lending by offering loans of a certain amount of money.

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

How to Report Illegal Fintech

"I ask residents to be careful when accepting offers from fintech lending companies because many of us are victims of fraud in the name of fintech lending.

Along with the increasing number of fintech lending practices that are not registered or licensed with the OJK, citizens must increase their vigilance so as not to become entangled and have problems with illegal fintech lending debt services. Residents can first check its legality via the official page.

But if you already have problems or are involved in illegal fintech lending offers or services, it is highly recommended to immediately report it to the OJK and the authorities by following these steps.

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

Or you can also send the complaint to the official OJK website or contact customer service Contact OJK 157. Customer service Contact OJK 157 can also be used for citizens who want to identify whether Fintech is Registered or Not a Service Authority Finance and details. Or provide a report to the official AFPI site.

Characteristics of Illegal Fintech Lending

So that you are still alert and don't get entangled, here are some characteristics of illegal fintech lending things that need to be avoided by the general public and business people are:

  • The company does not have permission from the OJK.
  • The company is not registered as a member of the Indonesian Joint Funding Fintech Association (AFPI) as the official umbrella association for this industry.
  • Fintech companies charge very large and non-transparent fees and fines.
  • Fintech companies are not subject to OJK provisions (POJK) and potentially are not subject to other applicable provisions and laws.
  • Fintech companies do not have experience in conducting fintech operations.
  • Fintech companies do not follow ethical billing procedures and the same regulations. Billing often takes place using harsh methods, tends to threaten, is inhumane and is against the law.

The points above are only some of the 14 characteristics detected by the 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 explained several modes of fraud in the name of fintech that often occur, one of which is:

  • SMS blast: offers fast, easy and collateral-free loans via SMS blast from a regular cellphone number.
  • The content of the SMS is usually straightforward, saying 'Need funds quickly without guarantees and low interest, fast process and easy contact XXX'. If you receive an SMS like this, it is really recommended to ignore it and if it bothers you, residents can report it to the OJK FCC service at 1-500-655 or the authorities or the police.
  • Low interest: offering really low interest is a scammer's way of luring potential victims into following the scammer's offers. Please note that determining debt interest always requires following the provisions and obtaining agreement from the OJK.

Currently, the interest rate on the market for fintech debt is around 16% to 30% per year for productive debt and an optimal of 0,8% per day for short-term debt (payday loans).

Rewards: if there is a perpetrator who offers a debt product and one of the conditions is that you have to pay a certain amount to process the debt application, this is something to be expected. In fact, it can almost be said that this is fraud because employees of financial institutions are not allowed to accept any compensation from customers and it is a serious violation if they do so.

"These three methods are the ones most often used by fraudsters and unfortunately there are many people who experience big losses because of them. "If residents want to apply for debt either for business capital or individual needs, it is really recommended to borrow through legal fintech lending which has obtained permission from the OJK and is an AFPI member," he explained.

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

FAQ

Following is the question and answer session:

How to Report Illegal Fintech

To report illegal online loans, submit a complaint to the police for a court case via the page https://patrolisiber.id or send a complaint to the email address info@cyber.polri.go. that is

Where to Report Illegal Fintech

Can Illegal Fintech Be Brought to Legal Ground?

Next, the manager illegal fintech will be prosecuted if criminal elements are found. Deputy Chair 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 combat online loan fraud, namely:

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

source: merdeka.com

Conclusion

That's the discussion for this article, hopefully the information we convey is useful, don't forget to visit our website here to read other interesting information, thank you.

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Lovata Andrean

Hi, I'm Lovata, I'm not Ai but I am a content writer for SEO, Technology, Finance, Travel, Cooking Recipes and others. I hope this can be useful for all my friends. Thanks