Debtors of illegal fintech firms do not need to repay loans: Ministry official

News Desk

The Jakarta Post

Jakarta

Jakarta   /  Mon, November 26, 2018  /  02:41 pm

Communication and Information Ministry information application director general Samuel Abrijanti Pangerapan(kompas.com/Fatimah Kartini Bohang)

A Communication and Information Ministry official has said that debtors of illegal financial technology (fintech) companies do not need to repay their loans.

“Borrow as much [money] as possible. […] Don’t repay [the loan] because they are illegal,” said Samuel Abrijanti Pangerapan, the ministry’s information application director general, on Sunday as quoted by kontan.co.id.

He also called on the public to report illegal fintech companies to authorities such as the ministry, the Financial Service Authority (OJK) or the police.

“So if illegal fintech companies collect their money, just report them. The authorities will arrest them for operating without licenses. They should suffer the losses,” Samuel added.  

He said the public’s participation in reporting illegal fintech companies would help end their operation.

He called on the public to review the list of fintech companies issued by the OJK before making a deal with a fintech company.

Currently, 73 fintech companies are registered with the OJK. (bbn)