Massive Shutdown of Illegal Online Lenders in Indonesia: 2,263 Companies Closed in 2025

In 2025, Indonesia’s Financial Services Authority (OJK) cracked down on 2,263 illegal online lenders, commonly known as ‘pinjol’. These entities were offering unauthorized financial services, leading many citizens into financial distress. The OJK emphasized the importance of using licensed lending institutions to mitigate risks for consumers. Fraud and unethical practices had become a major concern, prompting authorities to act and eliminate rogue companies from the market. They ‘deactivated’ all registered illegal operations, providing a safer environment for consumers. The campaign by the OJK drew attention through efforts to promote financial literacy and consumer rights protection, which should help prevent such situations in the future.