ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business trends

Indonesian finance body blocks 297 unregistered P2P lenders

Number of unlicensed platforms charging excessive interest rates is growing fast

JAKARTA -- The investment alert unit at Indonesia's Financial Services Authority, known as OJK, along with the IT ministry and local police force, has identified and blocked 297 illegal peer-to-peer lending platforms and one cryptocurrency platform. None of the blocked sites are properly registered with OJK.

Tongam Lumban Tobing, chief of the OJK's investment alert unit, said most of the illegal fintech applications that been found were from Indonesia, but the team also found several entities hosted on servers outside Indonesia.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more