From August to September 2024, Indonesia's Financial Task Force (Satgas PASTI), formerly known as Satgas Waspada Investasi, uncovered more than 400 illegal online loan entities operating across various websites and applications. These unlicensed services pose significant risks, including the potential misuse of personal data, and often exploit vulnerable consumers. In addition, Satgas PASTI flagged 30 personal loan offers (Pinpri) as potentially harmful, warning that they could violate privacy regulations and create financial harm for unsuspecting borrowers.

Satgas PASTI also targeted 68 illegal investment offerings that used a tactic known as "impersonation." Fraudsters behind these scams replicate the branding, websites, and even social media profiles of legitimate, licensed financial entities to deceive investors. The task force, in coordination with law enforcement, has ensured that these fraudulent services were blocked and that appropriate legal actions are pursued. Since its establishment in 2017, Satgas PASTI has successfully shut down a total of 11,389 illegal financial entities, including 1,528 investment scams, 9,610 illegal online loan services, and 251 unlicensed pawnshops.

The task force emphasizes the importance of public vigilance in avoiding illegal online loans and personal loan offers, which present serious risks such as financial loss and the unauthorized use of personal data. It has also warned the public to be cautious of investment fraud schemes, especially those spreading through social media platforms like Telegram.

Another troubling discovery during the recent crackdown involves illegal debt collectors linked to online loan services. Satgas PASTI identified WhatsApp numbers connected to debt collectors who used threats and intimidation tactics to pressure borrowers into repayment. In response, the task force has submitted a request to the Ministry of Communication and Information Technology (Kominfo) to block 226 of these contacts. The continued collaboration with Kominfo aims to eliminate the illegal online loan ecosystem and protect consumers from further harm.

In addition to the crackdown on online loans, Satgas PASTI has also raised concerns about fraudulent debt settlement services. Some individuals have been offering to help borrowers settle their debts by securing new loans from other illegal lenders. These services often promise to resolve outstanding debts but ultimately lead to even larger debts, leaving borrowers financially worse off. Satgas PASTI urges the public to be cautious of such offers and to avoid engaging with these fraudulent services.

The task force also took action against unlicensed pawnshops operating without the necessary approvals from Indonesia's Financial Services Authority (OJK). The newly enforced regulations in the Financial Services Law (UU P2SK) mandate that OJK licenses all pawnshops for their legal operation. Satgas PASTI advises consumers to be cautious when dealing with pawnshops that lack proper registration, certified appraisers, or other legal credentials. Businesses offering pawn services without the necessary licenses are subject to legal penalties, and consumers are urged to report suspicious activities to the authorities.

To aid in curbing illegal financial practices, Satgas PASTI has encouraged the public to report any suspicious investment offers, illegal loan services, or unlicensed pawnshops. People can reach out to the OJK’s hotline at 157, via WhatsApp at (081157157157), or email the task force at [email protected] to report any illegal activity. Through these efforts, Satgas PASTI aims to safeguard consumers and maintain the integrity of Indonesia's financial ecosystem.