Beware of Scam and Ilegal Fintech Company in Indonesia

People are reminded to be able to distinguish between registered and illegal online loans. One of them checks fintech's name on the OJK official website.

fintech


In addition, legal fintech does not provide more interest than the loan amount. For example, if a customer borrows 500 thousand Rupiah, then the maximum refund is 1 million.

If the loan fails to pay 1 or 2 years, the maximum bill is 1 time the debt does not exceed the nominal amount borrowed, if 500 thousand Rupiah is late to pay up to 1 year then the return of up to 1 million is no more.

Related to loan terms, legal fintech is only allowed to access the microphone, and the location of the customer detected from his cellphone. Even in billing procedures, debt collectors should only remind customers in the ways that have been determined.

The function of the emergency telephone number that is registered (emergency call) is only to find out the whereabouts of the customer if something unexpected happens. Billing through emergency calls is not justified.

This is different from illegal fintech, which at the beginning of online lending often requests access to a customer's cellphone contact list and requests permission to enter the cellphone gallery.

Not only that, illegal fintech usually collects debts to people who are in the customer's telephone contacts, debt collectors often do if the customer experiences bad credit.


Fintech 1 - THE NOT SO LEGIT 
Share, mostly they have sharing platform with other agencies (try to avoid this)
Source, the source of their money comes mainly from foreign exchange, they got it and then sell it on Indonesia.

cases like this as a reminder to stakeholders to provide protection to consumers. Moreover, so far there has been no specific law governing fintech companies.

It often happens that illegal fintech debt collectors collect the debt by providing threats, extortion to defamation and defamation of the customers. And terror is often carried out by debt collectors if customers are late paying.

The action occurred because debt collectors have a heavy workload in carrying out their duties. So that debt collectors justify any means to meet work targets.

Besides illegal fintech companies also often change applications if caught by the FSA. But the customers still have to pay the loan beforehand.

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