Online lenders – Preme Kvihan http://premekvihan.net/ Mon, 22 Nov 2021 02:21:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://premekvihan.net/wp-content/uploads/2021/10/profile.png Online lenders – Preme Kvihan http://premekvihan.net/ 32 32 Measures taken against 3,631 illegal online lenders since 2018: OJK https://premekvihan.net/measures-taken-against-3631-illegal-online-lenders-since-2018-ojk/ Tue, 09 Nov 2021 12:27:08 +0000 https://premekvihan.net/measures-taken-against-3631-illegal-online-lenders-since-2018-ojk/ Jakarta (ANTARA) – The Financial Services Authority (OJK) said it has taken legal action against 3,631 illegal online lenders since 2018 as part of increased scrutiny of existing online lending companies. “By working with law enforcement, government departments and officers from the Investment Alerts Working Group, we have taken concrete steps to screen and take […]]]>

Jakarta (ANTARA) – The Financial Services Authority (OJK) said it has taken legal action against 3,631 illegal online lenders since 2018 as part of increased scrutiny of existing online lending companies.

“By working with law enforcement, government departments and officers from the Investment Alerts Working Group, we have taken concrete steps to screen and take action against illegal online lenders,” Riswinandi said. , OJK’s Executive Director for Non-Bank Financial Sector Supervision, in a discussion on stamping out illegal online lending in Jakarta on Tuesday.

The collaboration is necessary because OJK needs the help of the authorities to deal with the problems of illegal online lenders in Indonesia, he added.

Illegal online lenders have become a stain on the positive image players in the peer-to-peer financial technology industry have built for themselves, Riswinandi said.

The industry intends to provide a new accessible alternative to meet people’s financial needs, he added.

The OJK official stressed the importance of public education to help people distinguish between legal and illegal online lenders.

“As a preventive measure, the OJK implemented public education programs through OJK social media, a public webinar and public lectures facilitated by consumer protection experts, a working group on consumer alerts. investment and monitoring task force, ”said Riswinandi.

In addition to improving public education, the OJK also developed the Fintech Lending Data Center to oversee around 102 legal online lending companies that have been integrated into the system as part of the continuous integration of other legal companies to the surveillance system, he explained.

Integration with the Fintech Loan Data Center would provide direct access to OJK to monitor peer-to-peer lending activities provided by businesses, such as loan limit monitoring, 90-day success rate monitoring, and adherence to the principles of loan distribution, said the official. .

Related news: Legal basis, data protection is key to crush unions of illegal lenders
Related News: LPSK to Offer Protection to Victims of Illegal Online Loans
Related news: The data protection bill is a legal shield against data leaks: ELSAM


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SEC stops registration of new online lenders https://premekvihan.net/sec-stops-registration-of-new-online-lenders/ Tue, 09 Nov 2021 08:00:00 +0000 https://premekvihan.net/sec-stops-registration-of-new-online-lenders/ The Securities and Exchange Commission (SEC) halted the registration of new finance and lending companies’ online lending platforms (PLOs) after it discovered loopholes in an old ruling were being used to prey on unwitting victims . The SEC ordered a moratorium on new online lending platforms (SEC Memorandum Circular 10, Series of 2021) on November […]]]>

The Securities and Exchange Commission (SEC) halted the registration of new finance and lending companies’ online lending platforms (PLOs) after it discovered loopholes in an old ruling were being used to prey on unwitting victims .

The SEC ordered a moratorium on new online lending platforms (SEC Memorandum Circular 10, Series of 2021) on November 2, ahead of the publication of new rules that will govern the licensing and registration of corporate PLOs. financing and loan.

“We are currently developing new guidelines that will allow loan and finance companies to better meet the needs of borrowers and, at the same time, close the loopholes that give rise to abusive and predatory practices,” said the president of the SEC, Emilio B. Aquino.

“We have seen the emergence of fintech companies that engage in predatory lending, taking advantage of those in financial difficulty during the pandemic. The Commission will work to eradicate those abusive finance and loan companies that only bury borrowers in even more debt, ”he said.

Online lenders who were registered with the SEC before the moratorium can continue to operate and be used for online loans or financing. The SEC has said it will subject existing lenders to strict monitoring, audit and review to ensure compliance with all applicable laws, rules and regulations.

To date, the SEC has canceled the licenses of 35 finance and loan companies due to various violations of its rules and regulations.

The certificate of registration of a total of 2,081 loan companies was also revoked by the SEC for failing to obtain the required certificate of authority, in accordance with Republic Law 9474 or the 2007 Law on regulation of loan companies.

Some 58 online loan applications have been ordered to cease operations for lack of authorization to operate as a loan or finance company.


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Online lenders reverse trend as fintech values ​​fall https://premekvihan.net/online-lenders-reverse-trend-as-fintech-values-%e2%80%8b%e2%80%8bfall/ https://premekvihan.net/online-lenders-reverse-trend-as-fintech-values-%e2%80%8b%e2%80%8bfall/#respond Mon, 08 Nov 2021 16:32:38 +0000 https://premekvihan.net/online-lenders-reverse-trend-as-fintech-values-%e2%80%8b%e2%80%8bfall/ The valuations of the largest listed fintech companies have fallen, but online lenders are going against the grain. Analysis by advisory and investment firm GP Bullhound found that its fintech index fell by $ 34.4 billion (£ 25.4 billion) in the 12 months leading up to September 2021. He said the largest share of the […]]]>

The valuations of the largest listed fintech companies have fallen, but online lenders are going against the grain.

Analysis by advisory and investment firm GP Bullhound found that its fintech index fell by $ 34.4 billion (£ 25.4 billion) in the 12 months leading up to September 2021.

He said the largest share of the losses came from PayPal and Shopify, which saw their market caps fall by $ 36.7 billion and $ 12.5 billion, respectively.

However, the listed peer-to-peer lending platform Funding Circle and the P2P-lender-turned-online lender Lending Club actually increased in value over the period.

Read more: The British fintech sector raises more in the first half of 2021 than in 2020

Read more: The funding circle set for the sixth securitization

The market capitalization of UK listed lender Funding Circle remained stable at around $ 700 million during the period, while that of Lending Club increased by $ 1 billion to reach $ 2.8 billion in the States. -United.

The GP Bullhound report said fintech companies had a record third quarter of fundraising and mergers and acquisitions worth $ 42.5 billion, and suggested that the immediate purchase, the late payment and impact investing are becoming major financial markets.

“Impact investing will soon become widespread with a significant volume of investments already underway and expected in this asset class in the coming years,” the report said.

“With impact investing becoming more widespread, technology is essential to meet the environmental, social and governance expectations of investors.

“Specific segments of fintech, such as investment applications, for example, are uniquely positioned to leverage technology and data to drive impact investing. “

Read more: Government steps up support for fintech


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SEC suspends registration of new online lenders https://premekvihan.net/sec-suspends-registration-of-new-online-lenders/ https://premekvihan.net/sec-suspends-registration-of-new-online-lenders/#respond Fri, 05 Nov 2021 21:32:00 +0000 https://premekvihan.net/sec-suspends-registration-of-new-online-lenders/ Citing an immediate need to tackle “abusive” and “predatory” online lending practices, the Securities and Exchange Commission (SEC) has declared a moratorium on the registration of new online lending companies (OLP) companies. financing and loan. The order dated November 2 took effect immediately and was issued ahead of new rules the SEC will impose to […]]]>

Citing an immediate need to tackle “abusive” and “predatory” online lending practices, the Securities and Exchange Commission (SEC) has declared a moratorium on the registration of new online lending companies (OLP) companies. financing and loan.

The order dated November 2 took effect immediately and was issued ahead of new rules the SEC will impose to improve the governance of PLOs, many of which had been blacklisted due to unfair debt collection practices, including shame on social media and issuing death threats.

“We are currently developing new guidelines that will allow loan and finance companies to better meet the needs of borrowers and, at the same time, close the loopholes that give rise to abusive and predatory practices,” said the president of the SEC, Emilio Aquino, in a press release on Friday.

Previously registered PLOs can continue to operate, but even they will be subject to strict monitoring, audit and review to ensure compliance with all applicable laws, rules and regulations.

“We have seen the emergence of fintech companies that engage in predatory lending, taking advantage of those in financial difficulty during the pandemic. The Commission will work to root out those abusive finance and loan companies that only bury borrowers in even more debt, ”Aquino said.

Worst recession

As the Philippine economy succumbed to its worst economic recession last year when COVID-19 erupted, leading to unprecedented job losses, many cash-strapped consumers turned to cash-out loans fast offered by online lenders. But some practice usurious rates and resort to abusive collection practices.

For example, some mobile loan apps access the list and contact numbers of people on the borrowers’ mobile phones and send text messages to shame borrowers when they are unable to pay. Some would even falsely claim that the recipient of the text bursts had been appointed by the borrower as the guarantor of the loan.

To date, the SEC has revoked the licenses of 35 finance / loan companies, citing various violations of applicable rules and regulations.

The SEC also revoked the certificate of registration of a total of 2,081 loan companies for their failure to obtain the required certificate of authority, pursuant to Republic Law No. 9474 or the 2007 Law of regulation of loan companies.

In addition, 58 online loan applications were ordered to cease their activities because they were not authorized to operate as a loan or finance company.

In 2019, the SEC required all loan and finance companies to report their PLOs and register them as business names. They were also required to display on their advertisements and PLOs their respective company names, SEC registration numbers, and certificate of authority numbers.

Loan and finance companies were also required to disclose interest rates and any other taxable charges to their borrowers before the completion of loan transactions.

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Online lenders show record net profits from January to September. to https://premekvihan.net/online-lenders-show-record-net-profits-from-january-to-september-to/ https://premekvihan.net/online-lenders-show-record-net-profits-from-january-to-september-to/#respond Wed, 03 Nov 2021 00:23:35 +0000 https://premekvihan.net/online-lenders-show-record-net-profits-from-january-to-september-to/ 확대 South Korean internet-only banks posted a record net profit in the first nine months of this year as new customers rose amid rising demand for household loans and rising loans. interest rate which has helped improve loan deposit margins. K-Bank said on Tuesday that its net profit stood at 16.8 billion won ($ 14.3 […]]]>

확대

South Korean internet-only banks posted a record net profit in the first nine months of this year as new customers rose amid rising demand for household loans and rising loans. interest rate which has helped improve loan deposit margins.

K-Bank said on Tuesday that its net profit stood at 16.8 billion won ($ 14.3 million) for July-September, up from 3.9 billion won in the second quarter and a sharp recovery from a net loss of 12.3 billion won in the first quarter. In the first three quarters, the bank posted 8.4 billion won on a net basis, putting the country’s top online lender on track for its first annual profit this year.

K-Bank, owned by a consortium of telecommunications giant KT Corp., Woori Bank and 19 other companies, has been in the red every year since it opened in April 2017.

Later in the day, Kakao Bank said its cumulative net profit for the three quarters of the year reached a record 167.9 billion won, up 95% from a year ago. Third-quarter net profit increased 28 percent year on year to 52 billion won.

The good results of the two online banks have been attributed to increasing margins on deposit loans with an increase in the number of customers this year, as households and businesses have borrowed heavily under expansionary monetary policies.

The number of K-Bank customers stood at 6.6 million at the end of September, compared to 2.19 million last year. Deposits by the bank’s customers increased from 8.51 trillion won to 12.31 trillion won in the cited period, with outstanding loans doubling to 6.18 trillion won.

Kakao Bank under Kakao Corp., the operator of the country’s dominant messaging app, KakaoTalk, said its customers stood at 17.4 million at the end of September, up from 15.44 million at the end of the year. ‘last year. The number of monthly active users (MAUs) who log in at least once a month exceeded 14.7 million, up 670,000 from the second quarter, becoming the country’s largest banking app.

Kakao Bank customer deposits increased by 5.52 trillion won from the end of last year to 29.06 trillion won, with outstanding loans up 4.72 trillion won to 25.03 trillion won. Kakao Bank debuted in the market in August and has grown to become the largest financial institution in terms of market capitalization.

The country’s first-generation, exclusively mobile banks also stood out with growth in non-interest income.

K-bank’s non-interest income for the third quarter snowballed to 8.5 billion won as its partnership with Upbit, the country’s largest cryptocurrency exchange, led to an increase in the number of K-bank customers.

Non-interest income from Kakao Bank platform fees represented more than 10% of its total operating profit in the third quarter.

By pulse

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]


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(LEAD) Online Lenders Report Strong Third Quarter Net Profit Increase https://premekvihan.net/lead-online-lenders-report-strong-third-quarter-net-profit-increase/ https://premekvihan.net/lead-online-lenders-report-strong-third-quarter-net-profit-increase/#respond Tue, 02 Nov 2021 12:11:12 +0000 https://premekvihan.net/lead-online-lenders-report-strong-third-quarter-net-profit-increase/ (ATTN: RE-MAKE slug, title, lead; UPDATE throughout Kakao Bank Profits; REPLACES photo) SEOUL, Nov 02 (Yonhap) – South Korean internet-only banks on Tuesday announced that their third-quarter profits rose sharply on the back of robust customer and deposit growth. K-Bank, controlled by a consortium of telecommunications giant KT Corp., Woori Bank and 19 other companies, […]]]>

(ATTN: RE-MAKE slug, title, lead; UPDATE throughout Kakao Bank Profits; REPLACES photo)

SEOUL, Nov 02 (Yonhap) – South Korean internet-only banks on Tuesday announced that their third-quarter profits rose sharply on the back of robust customer and deposit growth.

K-Bank, controlled by a consortium of telecommunications giant KT Corp., Woori Bank and 19 other companies, saw third-quarter profits more than double from three months earlier.

Net profit amounted to 16.8 billion won ($ 14.3 million) in the July-September period, compared to 3.9 billion won in the second quarter, K-Bank said in a report. regulatory dossier.

Three months earlier, K-Bank posted the first quarterly profit since its launch in April 2017, a sharp recovery from a net loss of 12.3 billion won in the first quarter.

In the first nine months of the year, K-Bank recorded a cumulative net profit of 8.4 billion won, putting the lender on track for its first annual profit for 2021.

Later in the day, Kakao Bank, affiliated with Kakao Corp., the operator of the country’s dominant messaging app, KakaoTalk, reported that its third-quarter net profit increased 28% year-on-year to 52 billion won.

Its cumulative net profit in the three quarters of the year was a record 167.9 billion won, up 95% from a year ago, the company said in a regulatory filing. .

The good results of the two online banks have been attributed to an increase in the number of customers and the amount of loan deposits.

The number of K-Bank customers stood at 6.6 million at the end of September, compared to 2.19 million at the end of last year.

The number of Kakao Bank customers stood at 17.4 million at the end of September, compared to 15.44 million at the end of last year.

K-Bank customer deposits increased from 8.51 trillion won to 12.31 trillion won during the cited period, with outstanding loans increasing from 3.19 trillion won to 6. 18 trillion won.

Kakao Bank customer deposits increased from 5,255 trillion won to 29,065 trillion won in the same period, and outstanding loans increased by 4,725 trillion won to 25,039 trillion won. of won.

In 2017, South Korea allowed the two internet-only banks to offer round-the-clock services with the aim of injecting more competition into the banking industry. The third online lender, Toss Bank, started operations in early October.
(TO FINISH)


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Online Lenders Report Sharp Increase in Third Quarter Net Profit https://premekvihan.net/online-lenders-report-sharp-increase-in-third-quarter-net-profit/ https://premekvihan.net/online-lenders-report-sharp-increase-in-third-quarter-net-profit/#respond Tue, 02 Nov 2021 05:40:53 +0000 https://premekvihan.net/online-lenders-report-sharp-increase-in-third-quarter-net-profit/ Computer generated images of K-Bank and Kakao Bank provided by Yonhap News TV. SEOUL, November 2 (Korea Bizwire) – South Korean internet-only banks said on Tuesday that their third-quarter profits had risen sharply on the back of robust customer and deposit growth. K-Bank, controlled by a consortium of telecommunications giant KT Corp., Woori Bank and […]]]>

Computer generated images of K-Bank and Kakao Bank provided by Yonhap News TV.

SEOUL, November 2 (Korea Bizwire)South Korean internet-only banks said on Tuesday that their third-quarter profits had risen sharply on the back of robust customer and deposit growth.

K-Bank, controlled by a consortium of telecommunications giant KT Corp., Woori Bank and 19 other companies, saw third-quarter profits more than double from three months earlier.

Net profit amounted to 16.8 billion won ($ 14.3 million) in the July-September period, compared to 3.9 billion won in the second quarter, K-Bank said in a report. regulatory dossier.

Three months earlier, K-Bank posted the first quarterly profit since its launch in April 2017, a sharp recovery from a net loss of 12.3 billion won in the first quarter.

In the first nine months of the year, K-Bank recorded a cumulative net profit of 8.4 billion won, putting the lender on track for its first annual profit for 2021.

Later in the day, Kakao Bank, affiliated with Kakao Corp., the operator of the country’s dominant messaging app, KakaoTalk, reported that its third-quarter net profit increased 28% year-on-year to 52 billion won.

Its cumulative net profit in the three quarters of the year was a record 167.9 billion won, up 95% from a year ago, the company said in a regulatory filing. .

The good results of the two online banks have been attributed to an increase in the number of customers and the amount of credit deposits.

The number of K-Bank customers stood at 6.6 million at the end of September, compared to 2.19 million at the end of last year.

Kakao Bank’s customer base stood at 17.4 million at the end of September, up from 15.44 million at the end of last year.

K-Bank customer deposits increased from 8.51 trillion won to 12.31 trillion won during the cited period, with outstanding loans increasing from 3.19 trillion won to 6 , 18 trillion won.

Kakao Bank customer deposits increased from 5.25 trillion won to 29.065 trillion won during the same period, and outstanding loans increased from 4.725 trillion won to 25.039 trillion won. won.

In 2017, South Korea allowed the two internet-only banks to offer round-the-clock services with the aim of injecting more competition into the banking industry. The third online lender, Toss Bank, started operations in early October.

(Yonhap)



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Debts to Illegal Online Lenders: To Pay or Not to Pay? – Opinion https://premekvihan.net/debts-to-illegal-online-lenders-to-pay-or-not-to-pay-opinion/ https://premekvihan.net/debts-to-illegal-online-lenders-to-pay-or-not-to-pay-opinion/#respond Mon, 25 Oct 2021 18:28:26 +0000 https://premekvihan.net/debts-to-illegal-online-lenders-to-pay-or-not-to-pay-opinion/ Yosea Iskandar (The Jakarta Post) PREMIUM Jakarta ● Tue, October 26, 2021 The recent police raids on the offices of illegal digital lenders, also known as the illegal pinjol, show the government’s firmness against such operations. Much has been done to eradicate crime, which targets online victims, including shutting down thousands of unregistered digital loan […]]]>

Yosea Iskandar (The Jakarta Post)

PREMIUM

Jakarta ●
Tue, October 26, 2021

The recent police raids on the offices of illegal digital lenders, also known as the illegal pinjol, show the government’s firmness against such operations. Much has been done to eradicate crime, which targets online victims, including shutting down thousands of unregistered digital loan accounts and imposing a moratorium on fintech lending licenses.

A senior government official also said that due to the illegal nature of the illegal pinjol business model, existing money loan agreements with their borrowers can be canceled. Departing from the usual advice of encouraging borrowers to pay off debts quickly or trying to negotiate a restructuring, he further suggested that borrowers should not repay their loans out of time. illegal pinjol.

Unfortunately, not everyone can tell the difference between illegal and legal lenders. Lack of understanding can lead a borrower to pass judgment and stop paying installments to a legitimate lender. This will cost the borrower more interest and penalties. Both parties will then have to devote more time and effort to resolving the dispute arising from the borrower’s unilateral action. Without clear guidelines and additional clarifications, the suggestion to stop payments can be a challenge for the online lending industry.

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OJK warns Indonesians about illegal online lenders https://premekvihan.net/ojk-warns-indonesians-about-illegal-online-lenders/ https://premekvihan.net/ojk-warns-indonesians-about-illegal-online-lenders/#respond Tue, 19 Oct 2021 15:33:56 +0000 https://premekvihan.net/ojk-warns-indonesians-about-illegal-online-lenders/ Padang, West Sumatra (ANTARA) – The Financial Services Authority (OJK) has warned the public against lending from illegal fintech companies, saying these companies charge customers high interest and can potentially cause them debt. wrong. “The characteristics of illegal online lending services are indicated by high interest rates, unclear loan terms and very easy loans,” West […]]]>

Padang, West Sumatra (ANTARA) – The Financial Services Authority (OJK) has warned the public against lending from illegal fintech companies, saying these companies charge customers high interest and can potentially cause them debt. wrong.

“The characteristics of illegal online lending services are indicated by high interest rates, unclear loan terms and very easy loans,” West Sumatra Financial Services Authority chief Yusri said on Tuesday. , in Padang.

“Moreover, the other features of illegal online loans are unlimited interest or borrowing costs, and total return including unlimited interest,” he said.

They also fail to provide the company’s address on the app or website, exclude contact numbers for complaints, and charge fees incorrectly, Yusri said.

In addition, the management of these companies also requests access to contact lists on mobile phone devices and other personal documents, he added.

“Usually they make offers via SMS, WhatsApp or private communication channels without authorization,” he said.

Yusri advised the public to borrow money from companies registered with the Financial Services Authority.

“Borrow according to (your) needs and abilities only for productive interests,” he said.

He also stressed that the public must understand the benefits, costs, interest, conditions, fines and risks of taking out a loan.

Related news: Ministry blocks 151 unlicensed P2P fintech lenders

People who have borrowed money from illegal online lenders in the past should repay the loan immediately to avoid an increase in the interest burden, he said.

They are also urged to report these companies to the Investment Alert Task Force, he said. If they have limited repayment capacity, it is better to ask for a loan restructuring in the form of reduced interest, extended term and elimination of fines, he added. .

He also urged people to refrain from finding new loans to pay off their old debts if they were unable to pay the original loan.

If customers are threatened by unethical means, they should block all contact numbers from which threatening calls are received and notify all contacts on their phones to ignore online lending related messages, a Yusri said.

As of October 6, 2021, the total number of fintech peer-to-peer lenders registered and licensed with financial services authorities stood at 106, Yusri said.

As of August 31, 2021, the number of lenders offering online legal lending services reached 749,175 and the number of borrowers reached 68,414,603, he added.

The total funds that were disbursed through the legal online lending services reached Rp.24993 trillion (nearly US $ 18 billion), with the outstanding debt set at Rp. $ 26.09 trillion (approx. US $ 2 million).

Related News: Government has blocked access to 4,873 illegal fintech content since 2018


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House Speaker backs police crackdown on illegal online lenders https://premekvihan.net/house-speaker-backs-police-crackdown-on-illegal-online-lenders-2/ https://premekvihan.net/house-speaker-backs-police-crackdown-on-illegal-online-lenders-2/#respond Sun, 17 Oct 2021 08:09:00 +0000 https://premekvihan.net/house-speaker-backs-police-crackdown-on-illegal-online-lenders-2/ TEMPO.CO, Jakarta – President of the House of Representatives (DPR RI) Puan Maharani expressed support for the National Police’s strong crackdown on illegal online lending practices, saying the practices harm the community. “Actions should not stop at operators or workers, but should also reach the boss or the owner. workers, ”she said in a written […]]]>

TEMPO.CO, Jakarta – President of the House of Representatives (DPR RI) Puan Maharani expressed support for the National Police’s strong crackdown on illegal online lending practices, saying the practices harm the community.

“Actions should not stop at operators or workers, but should also reach the boss or the owner. workers, ”she said in a written statement received on Saturday.

According to Maharani, the police must catch the owners or investors of illegal online loan companies, even if the people concerned are foreigners.

She said she hoped the police and related institutions would continue to step up the eradication of illegal loans that negatively affect the community.

“I appreciate the steps taken by the National Police Chief and his staff to root out illegal online lending that has caused problems for the community. The elimination of illegal online lending must continue to be stepped up until then. let there be no reports of people being intimidated and their personal data being misused, ”Maharani added.

Related News: Illegal online loan company raided in Yogyakarta, 83 employees detained

The Speaker of the House also appreciated the measure taken by President Joko Widodo, who asked the Minister of Communication and Informatics and the Financial Services Authority (OJK) to temporarily suspend new lender licenses in line in order to minimize the misuse of the digital service.

She called on the government to complete the Personal Data Protection Bill (PDP) to prevent the misuse of citizens’ personal data and to punish perpetrators more severely.

Because, so far, illegal lenders have only been charged under the Criminal Code Bill (KUHP), the ITE Act and the Consumer Protection Act, he said. she explains.

“With the existence of the Personal Data Protection Bill (PDP) later, illegal online lenders who misuse citizens’ personal data will be punished more severely, therefore the penalty will be doubled,” a- she declared.

In addition, she also urged the government to continue scaling up digital literacy and financial literacy among the public to prevent citizens from falling victim to illegal online lenders.

Read: Police raid illegal online lending headquarters in West Jakarta; Dozens of arrests

ANTARA


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