Be Careful! Bogus Online Loans Target Those Who Flaunt New Items During Eid

Dream - The Financial Services Authority (OJK) reminds the public to be cautious of the grip of illegal online loan providers (Pinjol) ahead of the 2023 Eid season. A special message is conveyed to those who enjoy flaunting new items when visiting relatives during Eid.

Friderica Widyasari Dewi, a member of the OJK Board of Commissioners for Education and Consumer Protection, believes that the Eid tradition in the country creates a consumptive pattern among the people. This opportunity is what illegal Pinjol providers target to offer loans to those in desperate need.

"To meet relatives in the village, to buy new gadgets," said Friderica during a socialization event held by OJK at the Grand Hyatt Hotel, Jakarta, on Tuesday, March 14, 2023.

Kiki, as Friderica is commonly known, admitted that the phenomenon of people being trapped by illegal Pinjol providers still occurs to this day. Those who are in desperate need before Eid usually borrow money without careful consideration.

Problems will arise when people finish their visits after Eid and return to normal life. It is at this moment that people will be asked to repay their debts with constantly moving interest rates.

"That's dangerous," Frederica warned, as quoted from Liputan6.com.

Quoting the results of a study, it is known that most Pinjol users are people who are already burdened with debt.

"So indeed these people have problems. It's like digging a hole to cover another hole," she said.

In addition to providing literacy and education to the public, OJK ensures that the Investment Alert Task Force (SWI) will proactively prevent the presence of illegal Pinjol providers that can harm victims.

"We monitor and take firm action against those who are still operating illegally," she said.

Frederica said that recognizing illegal Pinjol companies is actually quite easy. One of them is how the company offers its products by sending direct messages to its victims.

"Legal Pinjol providers are not allowed to offer their services through WhatsApp, SMS, private channels, that's not allowed," she emphasized.