MAKASSAR — Illegal online loans (pinjol) are a challenge for the Financial Services Authority (OJK) and law enforcement, both from a criminal and civil perspective. This was stated by the Chairman of the Investment Alert Task Force Tongam L Tobing at the ‘Legal or Illegal Online Loans’ seminar held by the Financial Services Authority (OJK) together with the Association of Indonesian Law Scholars (ISHI) virtually attended by OJK representatives Sulampua in Makassar, Friday (11/2). /2022). He said, from the development of fintech peer to peer lending, there were 103 fintech p2p lending companies registered and licensed by the OJK.
Meanwhile, the number of accumulated accounts is 809,494 lender entities. Meanwhile, the number of borrowing entities is 73,246,852 accounts with a total loan distribution of Rp 295.853 trillion. Observing these conditions, Tongam said the illegal online loan offer was triggered because the community’s need to get a loan quickly had been exploited by illegal borrowers.
According to him, the characteristics of illegal borrowing are setting high interest rates, large fees, unlimited fines, and terror or intimidation of customers or borrowers. “The total number of illegal borrowings that have been terminated from 2018 to 2021 is 3,734 entities,” he said.
However, up to now, there are still many offers made by illegal loan sharks. Another phenomenon of the rise of illegal borrowing is because of the ease with which users can upload applications or websites and access them. Meanwhile, the difficulty in eradicating is due to the location of many servers abroad.
From the side of the community who are often victims, Tongam said that the literacy level of the community is still low and triggered by an urgent need due to financial difficulties.