Losses from illicit schemes and loans reach $8.2 billion in 2011-2021

Investment losses resulting from illegal investment schemes and loans

The losses incurred from fraudulent investment schemes and loans that involved millions of victims amounted to Rp 117.4 trillion which is roughly US$8.2 billion, during the period from 2011 until 2021, according to the Financial Services Authority (OJK).

In the words of Wiwit Puspasari, deputy director of OJK’s Investment Alert Task Force, the losses resulting from illicit loans and investment schemes totaled Rp 68.2 trillion in 2011, Rp 7.9 trillion in 2012 and Rp 0.2 trillion in in 2014. “(They have reached) Rp 0.3 trillion in 2015, Rp 5.4 trillion in 2016 Rp 4.4 trillion by 2017 Rp 1.4 trillion by 2018 Rp 4 , trillion for 2019, , Rp 9.3 trillion by 2020, and Rp 2.5 trillion by 2021.” Puspasari informed Tuesday at an event on how to deal with the illegal lending online at Palu, Central Sulawesi.

The cause for the growth in illicit investment schemes and loans in the current information technology age is twofold, she added. On the side of the perpetrators the ease of establishing websites, applications and deals through social media and the availability of servers overseas have led to an increase in the number of illegal investments, she said. If you need a quick infusion of cash, it is safe to use online loans no credit check OakParkFinancial.com.

OJK encourages users to inform illegal online rental firms with the help of police

The Financial Services Authority (OJK) has advised those who are in the grips of fraudulent online lending companies to report them and report the situation to police to ensure that action is taken against the lenders without delay. “For individuals who borrowed money from unlawful online lender and were accused, you must inform authorities,” chairperson of the Board of Commissioners of the Financial Services Authority, Wimboh Santoso, told Solo on Monday.

While those on the other side are often trapped in high-yield loans, and are not aware of the importance of investing and can suffer huge losses, she added. According to Puspasari criminals typically employ a variety of methods to carry their heinous acts for example: B. View and like posts posted by victims’ social media accounts. They also provide direct sales through referrals or membership packages She said. Some of the perpetrators will even let you increase mobile data usage through bonus points for tiers, she said.

Illegal investment firms also use advertisements and pyramid schemes like selling ebooks, to be fraudsters She pointed out. Additionally the pyramid schemes are employed for aiding others in selling stock as well as shopping online she said.

“The public should be aware of the features of a fraudulent investment. They are characterized by the possibility of gaining illegal profits within a short time, bonus payments from the recruitment of new members, and the involvement of religious or community leaders as figures to encourage enthusiasm to invest (in fraud plans),” she added.

Another characteristic of illicit investments include assertions that are not backed by risk or legal uncertainty, she explained. As an example, while a foundation or cooperative may be licensed as an institution but it does not be able to obtain a business license she said.

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