Ojk Investment Application

Ojk Investment Application – Fadil is a resident of Jakarta who first heard about Tanija in 2019 after seeing an ad on Instagram. The company is presented as a peer-to-peer lending platform for agricultural projects, where lenders can choose to invest in many projects in Indonesia and receive income after harvest.

“The program is about trust. Each project is described in detail along with a profile of the farmer groups involved. Each project promised a profit of 5% to 13% in six to eight months,” Fadil said

Ojk Investment Application

Ojk Investment Application

. Given the high interest rates offered by the site, Fadil feels investing in the app is a better move than traditional bank deposits, which offer interest rates between 2.85% and 3% per year.

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He invested in three projects: golden watermelon, granola potatoes and mushrooms, 12 million IDR (USD 838). The forum claims a 10% ROI after six to eight months. Almost two years after completing the first project, no money has been received by Tanija.

He said, “The first project – golden watermelon – was supposed to be completed in early 2020, but due to crop failure it was delayed until June 2020 due to insects. I still think it sounds like part of the investment risk. In June, I got the balance in my Tanijay account and the app said that I can withdraw after 14 days. Even after a few months I could not withdraw my money. ” Fadil.

Since then, communication between Fadil and Tanijai has been cut off. In August, company representatives invited Faddle and other creditors to a regular meeting. Tanija’s representatives explained that there were problems with payment and collection. Due to the partial shutdown in many parts of Indonesia, according to Fadil, the company has had difficulty monitoring agricultural operations and allowing farmers to withdraw. The agency accused some farmers of “non-cooperation”.

Fadil said that after the meeting, the company set up Telegram groups to inform lenders about the latest developments. So far, the company has failed to provide consistent information. Since December, Thanijoy has completely stopped responding to messages in Telegram groups.

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In search of answers, the creditors got together and created another Telegram group with 450 members. In total, the creditors say they invested more than 4 billion IDR (280,000 USD) without payment and were unable to get the money transferred to Tanijoy.

“No information has been received on projects from 2020. Lenders cannot withdraw funds from their accounts even after projects are completed, and lenders cannot withdraw ‘new funds’ or top-up funds from accounts,” Fadil said. theirs.” More than ten projects. ) was invested. “

Several lenders began tweeting about the issue in late July, asking local media to investigate the launch using hashtags such as #tanijoymenghilang (“Tanijoy is missing”) and #tanijoypenipu (“Tanijoy is a fraud”). Facing public pressure, Tanijai held another regular meeting on July 30 for its disgruntled customers.

Ojk Investment Application

During the meeting, the company’s management team refused to be kidnapped. Tanijoy admitted negligence in his actions which caused the farmers to delay in disbursing money to the farmers. The agency also revealed difficulties in monitoring operations and collecting money from farmers in the fields due to the COVID-19 shutdown. A spokesman for the company said this could lead to loan defaults and late payments to creditors. The company promised to pay the lenders in monthly installments.

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“After pressure, Tanijai agreed to try to return the money in the next three years, but we are not very confident,” Fadil said.

At the time of writing, Tanija’s website is not available in Indonesia. Tanijai did not answer

This is not the first time Tanija has committed fraud involving a company or an investment site in Indonesia. In July 2020, the OJK ordered the suspension of the Juska investment firm due to allegations of fraud, misappropriation of investment funds and illegal trading of shares. In this case, at least 41 victims claimed to have lost IDR 18 billion (USD 1.2 million). Mahesa Indonesia and Amarta Indonesia were also suspended by the OJ for allegedly providing financial services without proper licenses.

All of these cases have one thing in common – the targeted companies were operating without a license from Indonesia’s financial institution OJK, making them illegal websites. Fadil knew, but chose to trust the company, which he said was in the process of registering with OJK.

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Fadil believes that the company is well-known locally and internationally. Thanijay won the best social media award in 2018 by local media

And it was listed as one of the top 100 startups of the year by the technology magazine

Tanijay is also the recipient of the 2019 DBS Foundation Award. “This appreciation from various organizations convinced me that Tanijoy is a real company,” Fadil said.

Ojk Investment Application

In order to obtain an OJK license, fintech companies must meet a number of requirements. Organizations must demonstrate legal authority with a physical office, have reliable customer service, and have a data center and data recovery center. OJK will also examine the company’s business conditions and risk management, taking measures to ensure that the website does not use public funds for illegal activities such as money laundering and terrorist financing. Additionally, the companies themselves are liable for the user’s losses due to the company’s negligence.

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Overall, investment returns in Indonesia have increased over the past year. According to data from the Indonesian Stock Exchange (KSEI), there were 4.9 million mutual fund investors in June 2021, an increase of 55.27% compared to 3.1 million people at the end of 2020. Meanwhile, the number of mutual fund investors of shares rose to 5.6 million, up 44.45% from 3.9 million at the end of last year.

Anamaka William, head of PR and communications at a Jakarta-based digital investment agency, said the pandemic has accelerated consumer interest in experimenting with investment websites for the first time.

“We have about one million monthly active users, with IDR 5 million (USD 349.2 million) in assets under management. We cannot show year-on-year growth, but according to KSEI figures, we are growing through infection and we are seeing positive growth on Bibit’s website.” William said that 90% of Bibit’s users are under 35 years old.

According to marketing and sales director Parmita Shari, Kompas.com reports that Indo Premier, another equity and investment firm, has doubled its user profits over the years. 2021 in April 2021 before the pandemic. Sari says that this development of easy access to investment information and availability on the Internet makes it easier for newcomers.

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However, this free flow of information has not increased financial literacy in Indonesia. The latest national financial literacy survey conducted by OJK in 2019 shows that financial literacy in the country is 38.03%. In fact, six out of ten Indonesians are illiterate. Although this rate has been declining since 2013, when the country reported an overall literacy rate of only 21.84%, this figure is still low compared to the rapid growth of internet and telephone penetration in the country, which has reached 73.7% and 58.6. % in 2020.

In a high-investment environment, low levels of education and financial literacy make citizens vulnerable to fraud and scams. Legitimate companies such as BiBit have also managed social media groups that offer financial advice on platforms such as Telegram and Facebook.

“In July, we found more than 20 Telegram and Facebook groups using the Bibit name. The founders of the group convinced the members to put their money in the manager’s account to invest in Bibit. “They also promise that they will make a lot of money,” says Bibits William. This group has tens of thousands of members, which shows that many people are curious and want to learn about investing, but they are getting information from the wrong places. “

Ojk Investment Application

The company is currently working with the OJK investigation team to eliminate these groups “New investors are easily deceived by short-term ROI tactics.” However, through social media, Beebit has repeatedly asked users to be more cautious and not follow accounts other than the company’s official page.

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From January to June 2021, Indonesia’s Ministry of Technology has banned 447 illegal websites, but new websites will appear again. Managers know that the problem lies in people who have little financial knowledge, which makes investment companies unprepared to attract unprepared clients.

However, Bank Indonesia (BI) and other regulators are already taking a number of measures to increase financial literacy among young people, especially millennials and Gen Z, as BI branch manager Junanto Hardiawan told local media in recent press conference.

For example, BI is preparing the Indonesian Payment System Blueprint 2025, which looks at payment mobility.

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