JAKARTA – Investment Awareness Task Force (lit. Satgas Waspada Investasi/SWI) discovered 88 illicit online lending platforms in October 2022. This discovery will be added to the long list of illegal lending platforms that have been closed down by SWI since 2018.

Tongam L. Tobing, the Head of SWI, mentioned that until October 2022, the number of unauthorised online lending platforms that had been closed down reaches 4,352 sites. “Several individuals have been indicted, but some of them have yet to show repentance,” he further explained in the press release quoted Friday (18/11).

According to Tobing, SWI receives complaints from the victims of illegal online lending almost every day. The law enforcers are then urged to take necessary actions towards these unauthorised illegal loan providers by blocking its sites and applications to make them inaccessible by the mass.

SWI also found 77 illegal auction activities. Since 2019, SWI has terminated 242 sites of said illicit action. This termination is based on the Financial Services Authority Regulation (POJK) No.31/POJK.05/2016 regarding Auction Businesses. (LK/ZH)