HomeNewsVideos

OJK: Offering investment products through SMS is illegal

28 September 2020 06:23

JAKARTA - The Financial Services Authority (OJK) stated that investment and financial products offerings sent with Short Message Service (SMS) is illegal. This was mentioned by Tongam Lumban Tobing, Chairman of the Investment Alert Task Force of OJK in a press release published on Monday (28/9).

According to him, the regulation was issued by OJK in 2016. In Article 43 POJK 77/2016, he said, it is prohibited to offer services to the public through personal means of communication without consent.

He said that his party appreciated the steps of the Indonesian Joint Funding Fintech Association (AFPI) which prohibited fintech companies from offering its products through SMS to the public.

This month, OJK found 126 illegal P2P fintechs, 32 illegal investment entities and 50 unlicensed pawn shops. (LK/AR)

 
© 2024 - IDN Financials - All Rights Reserved.