Satgas PASTI-OJK (2025) — Annual Report on Eradication of Illegal Financial Entities (2024)

 Jakarta, Indonesia – The Financial Services Authority of Indonesia (OJK), through the Illegal Financial Activity Eradication Task Force (Satgas PASTI), reported a continued large-scale crackdown on illegal financial entities throughout 2024, highlighting the persistent risks posed by unauthorized lending platforms and investment schemes in the country’s digital financial ecosystem.

According to the 2025 annual report covering enforcement activities in 2024, Satgas PASTI successfully shut down thousands of illegal financial entities operating across Indonesia. The majority of these cases involved unlicensed online lending platforms (commonly known as illegal fintech lending), followed by fraudulent investment schemes targeting retail consumers.

Official data show that Satgas PASTI intensified its enforcement actions through coordinated monitoring, public complaints handling, and rapid blocking mechanisms. In 2024 alone, thousands of illegal entities were identified and taken down, reflecting a sustained effort by regulators to protect consumers from predatory financial practices and digital fraud.

The report highlights that illegal online lending remains the dominant category of financial misconduct. These platforms often operate without regulatory approval, offering instant loans with misleading terms, hidden fees, and aggressive debt collection practices. Many also misuse personal data, including contact lists and private information, to pressure borrowers into repayment.

Beyond enforcement actions, Satgas PASTI also recorded a significant number of public complaints related to illegal financial services. These complaints played a crucial role in identifying and dismantling fraudulent platforms, demonstrating the importance of public participation in financial consumer protection.

The task force emphasized that illegal financial operators continue to evolve rapidly, frequently rebranding or reappearing under new digital identities after being shut down. Many of these entities also exploit social media and messaging platforms to reach potential victims, making detection and enforcement increasingly complex.

To address these challenges, OJK and Satgas PASTI strengthened collaboration with other government agencies, financial institutions, and digital platforms. Efforts include blocking websites and applications, disabling bank accounts linked to illegal operations, and coordinating with telecommunications providers to limit fraudulent communications.

The report also underscores the importance of financial literacy as a long-term solution. Authorities stress that public awareness and education are essential to reducing vulnerability to illegal financial schemes, particularly among young users and low-income communities who are often targeted by high-risk digital lending services.

Satgas PASTI concluded that while enforcement actions in 2024 were extensive and impactful, illegal financial activities remain a dynamic and evolving threat. Sustained regulatory vigilance, technological adaptation, and cross-sector cooperation are necessary to ensure a safer and more resilient digital financial environment in Indonesia.