Jakarta (ANTARA) - The Financial Services Authority (OJK) announced on Tuesday that it shut down 3,240 illegal financial service entities throughout 2024.
This figure includes 2,930 online lenders and 310 investment service entities, according to OJK official Friderica Widyasari Dewi.
She noted that the Task Force for the Eradication of Illegal Financial Activities has identified the phone numbers of illegal online lenders' debt collectors and proposed to the Ministry of Communication and Digital Affairs to block these numbers.
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In 2024, OJK received 16,231 complaints regarding illegal financial service entities, including 15,162 complaints related to illegal online lenders and 1,069 concerning illegal investment service entities.
To ensure compliance with applicable regulations and enhance consumer protection, OJK actively enforces provisions related to market conduct supervision and consumer protection.
As of December 2024, 2,619 financial service providers had submitted consumer protection self-assessment reports on time, representing 96.32 percent of the 2,719 providers required to report.
"OJK has imposed administrative sanctions for late reporting on the 100 financial service providers," she remarked.
To enforce consumer protection provisions, OJK issued 293 written warnings to 188 service providers, 20 orders to 18 service providers, and 87 fines to 81 service providers in 2024.
During this period, 217 service providers reimbursed consumers for 1,526 complaints, with total reimbursements amounting to Rp212.17 billion (approximately US$13.08 million).
