Investment Alert Task Force Warns Public of Illegal Crypto Trading
The Investment Alert Task Force (SWI) has warned the public against crypto asset investment scheme offered by crypto asset traders not registered with Ministry of Trade’s Commodity Futures Trading Regulatory Agency (Bappebti).
“Be careful with crypto asset investment with fixed profit scheme,” Tongam L. Tobing, Chairperson of the SWI, said in his written statement, Thursday (12/02).
Tongam said that the SWI has banned one entity, namely PT Rechain Digital Indonesia, for trading crypto assets Vidy Coin and Vidyx without licensing. The Task Force has also prohibited five business activities suspected of being money games and three business activities of trading robots without licensing.
“Before investing in crypto, the public should learn the list of crypto traders and the list of their crypto assets at the Bappebti as the authority authorized to regulate and supervise this cryptocurrency in accordance with Regulation of Bappebti Number 7 of 2020 on the List of Crypto Assets Allowed to be Traded in the Physical Crypto Asset Market, ” he said.
Tongam further said that there are application-based investment schemes that take advantage of the public’s lack of understanding by promising very high and unreasonable returns.
The SWI, he added, called on the public to do the following preemptive measures:
- Ensure that the entity offering the investment has a license from the authority.
- Ensure that the entity offering investment products has a license to offer the products, or is registered as a marketing partner.
- Ensure that the use of the Government Agency or Institution logo in the offering media has been carried out in accordance with the provisions of laws and regulations.
In the meantime, Tongam also said that the SWI has closed 103 illegal online lending platforms, adding that eradicating the illegal online lending platforms requires cooperation from all stakeholders, including community members.
For the record, the SWI has closed 3,734 illegal lending applications from 2018 to November 2021. The SWI supports law enforcement against the illegal online lending platforms by continuously blocking their sites and applications.
Information on the list of companies that do not hold permission from the authority can be accessed at the Investor Alert Portal at sikapiuangmu.ojk.go.id.
Regarding any suspicious investment scheme, the public can consult or submit report to the Financial Services Authority (OJK) Consumer Service 157, email firstname.lastname@example.org or email@example.com.