7 Illegal Trading Robots Stopped by Investment Alert Task Force

  • January 4, 2022

The  Investment Alert Task Force (SWI) continues to eradicate illegal online lending (pinjol) by closing 116 illegal online loan companies found in cyber patrols still operating on the internet and applications on mobile telecommunications networks.

“We continue to carry out cyber patrols and close the applications and websites of illegal loans that are still operating, so that people do not become victims,” ​​said SWI Chairman Tongam L. Tobing.

In addition to closing down illegal lending companies, the Investment Alert Task Force (SWI) under the auspices of the Financial Services Authority ( OJK ) has stopped seven companies offering investment in crypto assets, gold assets, and trading robots. This closure was carried out because they were not registered with the Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade.

In an official statement, SWI Chairman Tongam L. Tobing said his party had stopped companies without a permit. Furthermore, 7 business activities suspected of offering money games and trading robot business activities without a permit have also been stopped.

They are PT Saratoga Investama Reksadana (duplication of the name PT Saratoga Investama Sedaya), DNA Pro robot trade, Pansaka Trading Robot (Auto Trade Gold), FX Family, Fahrenheit Robot Trading, Indonesia Crypto Exchange, and Smart Gold or Smartavatar Co. Ltd.

Most of these trading robots carry out sales activities or offer investment trading robots with a direct selling system without permission.

According to Tongam, seven business activities are suspected of carrying out business activities without a permit from the competent authority as well as duplicating or on behalf of a licensed company so that it has the potential to harm the community.

Therefore, “the public is careful about investment offers through Telegram media because they are found to be illegal investment offers,” he said.

The Investment Alert Task Force also said that there was one company that was normalized, namely Luminesia.com because it had proven that its activities were not illegal investment activities.

Furthermore, SWI urges the public to understand things before making an investment, namely, ensuring that the party offering the investment has a permit from the competent authority in accordance with the business activities being carried out.

With this in mind, the public must also ensure that the party offering investment products, has a license to offer investment products or is registered as a marketer partner and ensures that the inclusion of the logo of a government agency or institution in the media offering has been carried out in accordance with the provisions of laws and regulations.