Indonesia: OJK Shuts Down 14 More Illegal Investment Businesses

• Oct 23, 2017

TEMPO.CO, Jakarta – The Financial Service Authority’s (OJK) Investment Task Force shut down 14 fund-collecting organizations in October. They are under suspicion of frauds or for operating without licenses. 

“They are operating without a license or are offering products that may hurt investors’ finances, because the return rate they promise is ridiculous,” the task force’s chief Tongam L Tobing said in a written statement Tempo received on Monday, October 23.  

The entities whose business had been terminated by the OJK this month are Dunia Coin Digital, Indo Snapdeal, Questra World/ Questra World Indonesia, Investindo Amazon, Dinar Dirham Indonesia, Wujudkan Impian Bersama (WIB)/Global Mitra Group, Ahmad Zulkhairi Associates LLP (AZA), and Mahakarya Sejahtera Indonesia/ Multi Sukses Internasional.

There are also Azra Fakhri Servistama, Tractoventure/Tracto Venture Network Indonesia, Purwa Wacana Tertata/ SPSCoin, Komunitas Arisan Mikro Indonesia/K3 Plus, investasisahammandiri.blogspot, and Seven Star International Investment.

Tongam said that from January to October the Task Force has stopped the operations of 62 entities.  He urged the public to seek legitimate information before making investments, and make sure that they are putting their money in organizations registered with and licensed by the authorities.   

He also reminded that people should be suspicious of investments that offer high return rates. 

“When you find suspicious investment offers, please consult or report to us,” he said.  

Source: https://en.tempo.co/read/news/2017/10/23/056912558/OJK-Shuts-Down-14-More-Illegal-Investment-Businesses