Suara.com – The Financial Services Authority (OJK) in collaboration with associations and Fintech P2P Lending businesses continues to increase public understanding of the risks that arise when giving access to personal data to friends or close people in order to obtain online loans (pinjol).
Agusman, Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions and Other Financial Services Institutions at the OJK, said that the public needs to be aware of the consequences if there is a failure to pay or arrears in obligations.
The reason is, the billing process will be carried out by the Fintech P2P Lending Organizer to the original data owner.
“If the person who borrowed the personal data information is in arrears and fails to pay his obligations back to the Fintech P2P Lending Provider, then the person who lent the personal data will suffer the loss,” Agusman told the media in Newsdelivers.com, Wednesday.
In addition, the owner of the original data is at risk of being listed on the Fintech P2P Lending industry database blacklist due to default or loan arrears by the data borrower.
Therefore, people must be wise and careful in maintaining the security and use of personal data to prevent potential losses in the future.
Based on Article 35 of OJK Regulation 10 of 2022, OJK requires Fintech P2P Lending providers to facilitate risk mitigation for service users, including by verifying the identity of service users and the authenticity of documents.
This provision aims to minimize misuse of personal data lending to unauthorized people.
Previously, the Financial Services Authority (OJK) and the Task Force for Eradicating Illegal Financial Activities stopped the operational activities of 1,466 illegal online loan entities (pinjol) in the period 1 January to 27 October 2023.
OJK Chief Executive for Supervising the Behavior of Financial Services Business Actors, Education and Consumer Protection, Friderica Widyasari Dewi, said that apart from eradicating these illegal lending entities, during the same period the OJK and the task force also closed down 18 illegal investment entities.