KONTAN.CO.ID - JAKARTA. Investment Alert Tax Force chairman Tongam L. Tobing has said the investment watchdog found 144 unlicensed peer-to-peer (P2P) lending platforms, including those operating from foreign countries such as China, Malaysia, Singapore and the United States. The Financial Services Authority (OJK) previously said it had blocked hundreds of unlicensed P2P lending websites and applications. However, unlicensed platforms could easily be established, Tongam said in Jakarta on Sunday. The constantly evolving nature of information technology, Indonesia's large market for online lending and the general public's poor understanding of fintech were factors that made it possible for financial technology institutions to operate illegally, he said.
Investment watchdog finds 144 unlicensed fintech platforms
KONTAN.CO.ID - JAKARTA. Investment Alert Tax Force chairman Tongam L. Tobing has said the investment watchdog found 144 unlicensed peer-to-peer (P2P) lending platforms, including those operating from foreign countries such as China, Malaysia, Singapore and the United States. The Financial Services Authority (OJK) previously said it had blocked hundreds of unlicensed P2P lending websites and applications. However, unlicensed platforms could easily be established, Tongam said in Jakarta on Sunday. The constantly evolving nature of information technology, Indonesia's large market for online lending and the general public's poor understanding of fintech were factors that made it possible for financial technology institutions to operate illegally, he said.