2023-11-07 | Awas Modus

Beware of Investment Fraud, Choose the Reliable One

The growing trend of investment, especially through digital channels, has made it easier for people to start investing. However, it is important for investors and prospective investors to be careful when making investments as they may be found to be fraudulent.

The perpetrators of fraudulent investments usually take advantage of people’s lack of knowledge about the investment system and promise huge profits in a relatively short time.

Fraudulent investments or investment scams that have been encountered in Indonesia include:

1. Robot Trading

This scam was rampant a while ago, where victims were asked to deposit a certain amount of money to be traded through a robot in exchange for a large monthly profit.

2. Fraudulent Cooperatives

Saving and loan cooperatives were once a cover for fraudulent investments with Ponzi schemes. In this case, victims who wanted to save their money in the cooperative were promised a huge profit every month. Furthermore, the members of this cooperative were asked to find recruit people to deposit funds and, in turn, would receive bonuses.

3. Fraudulent Arisan

With the ease of technology, arisan, which used to be done face-to-face, is now done through instant messaging such as WhatsApp or Telegram. Unfortunately, some irresponsible people use this to “host” online arisan or money investment services. They usually offer money/precious metals such as gold or jewellery for arisan, only for the host to run away with all the arisan participants’ money.

Other than that, there are also scams using fake adverts or websites to fool investors. Obviously, the scammers will continue to change the methods and ways of offering their lures. However, you can recognize whether an investment is fraudulent or not through its characteristics.

Identify the Characteristics of Fraudulent Investments

  • Unclear information about the investment business process. It usually comes from a company with no credible track record or provenance. Track record and business-related information are unclear.
  • Does not have a license or has a fake license and is not registered with the Financial Services Authority (OJK).
  • In Ponzi schemes, investors are offered huge bonuses if they succeed in recruiting new members.
  • Promises huge profits in a short time and minimal risk. Keep in mind that in making any investment, the principle of ‘low risk low gain’ and ‘high risk high gain’ applies.
  • Promises profit certainty and guaranteed repurchase of investment assets.
  • The method of fund disbursement is not clear.
  • It is usually done through social media channels, WhatsApp, Telegram and others, by using photos/profiles of well-known people.

For information, you can also check the list of licensed PUJK (Financial Services Business Actors) through the website https://reksadana.ojk.go.id/ and the list of illegal investments through https://ojk.go.id/waspada-investasi/id/alert-portal/ .

If you find a potential fraudulent investment that misuses the name of an Institution/Individual/the OJK, please report it immediately to the authorities, namely the Investment Alert Task Force via email waspadainvestasi@ojk.go.id or call 157.

There are also guidelines for those who want to submit questions, information and/or report complaints through the Consumer Protection Portal Application (https://kontak157.ojk.go.id)

Investment is important, but make sure you invest in the right place. Now, investments can be made easily and more affordably through the WElma feature in the myBCA application, namely Mutual Fund investments starting from Rp10,000, Fixed Rate (FR) secondary market bond investments starting from Rp1 million, INDON/INDOIS starting from USD1,000.

BCA partners with selected Investment Managers (MI) and curated investment products. In addition, BCA and its Investment Manager partners are licensed and supervised by the Financial Services Authority (OJK).

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