The Financial Services Authority (OJK) reported that it had blocked 953 illegal online lending entities during the first quarter of 2026. This action was taken in response to a significant volume of consumer complaints received by the authority.
Between January and March 2026, the OJK recorded a total of 10,516 complaints. These included 8,515 reports related to illegal online loans, 1,933 concerning illegal investments, and 68 involving illegal pawnshops.
Dicky Kartikoyono, OJK’s Executive Head of Market Conduct Supervision, Education, and Consumer Protection, stated during a press conference in Jakarta that the Task Force for Eradicating Illegal Financial Activities (PASTI Task Force) acted on these reports by immediately shutting down the 953 illegal online lenders. The OJK also took steps to block illegal investment offers found on various websites and applications deemed potentially harmful to the public.
Furthermore, through the Indonesia Anti-Scam Center (IASC), the authority has overseen the blocking of 460,270 bank accounts connected to various scam operations. This cumulative figure accounts for actions taken since the center began its operations in November 2024 up to March 2026. The funds frozen as a result of these efforts amounted to Rp585.4 billion (US$34.3 million).
The PASTI Task Force is actively monitoring fraud reports submitted to the IASC. In collaboration with the Ministry of Communication and Digital Affairs, the task force has also blocked 94,294 phone numbers implicated in fraudulent activities. Future efforts will involve closer coordination with telecommunications companies to enhance these preventative measures.
In the realm of enforcement and consumer protection, the OJK imposed various sanctions on regulated financial service providers from January 1, 2026, through the end of March 2026. These included 33 written warnings issued to 31 providers, three written instructions directed at three providers, and 15 fines levied against 13 providers. Additionally, 17 administrative sanctions in the form of written warnings and 11 administrative sanctions in the form of fines were issued under market conduct supervision.
Source: Original
