Indonesian Financial Services Authority’s task force identifies 125 illicit Financial technology firms.
Indonesia’s Financial Services Authority’s (OJK) investment task force has identified 125 illegal fintech firms and has shut down 182 unregistered entities since 2019 said task force chief Tongam L. Tobing on Tuesday.
He lamented the rising number of unregistered and illegal fintech entities on the internet and advised people to check if entities are registered with the OJK.
Tobing said that the taskforce will maintain co-ordination with 13 government agencies and ministries to map out and crack down on Indonesia’s illegal fintech industry. The taskforce announced earlier in October that it had shut down 133 online lenders and 1898 illegal financial entities from November last year.