Recently, there has been news circulating on social media about personal loans, commonly referred to as "pinpri." The term "pinpri" refers to individuals or private entities offering loan services. The requirements for obtaining these loans typically include an identity card (KTP), a self-portrait photo, and social media accounts, with disbursement often taking less than a day.

Friderica Widyasari, the Chief Executive of Financial Service Business Supervision, Education, and Consumer Protection at the Financial Services Authority (OJK), explained that pinpri does not fall within the scope regulated and supervised by OJK, and there are no licenses issued by OJK for pinpri.

OJK, through its official Instagram account, has pointed out that pinpri carries several risks, including:

1. Not Supervised by OJK: Pinpri operates without OJK oversight.
2. Prone to Fraud: There are upfront fees required at the start of the agreement, which can lead to fraud risks.
3. High Interest Rates: The interest rates on pinpri loans can be very high, reaching 35 to 40 percent, significantly higher than the maximum of 24 percent typically seen in fintech loans.
4. Quick Due Dates: Loan due dates are typically within 24 to 48 hours.
5. Data Dissemination Risk: If borrowers fail to repay, their data may be disseminated on social media.

The high-interest rates and upfront fees associated with pinpri loans can burden consumers. Therefore, it is crucial to take preventive measures, such as verifying financial service institutions registered with OJK through the number 157, the email address konsumen@ojk.go.id, or via WhatsApp at +628157157157.

Additionally, OJK reported that from the beginning of the year until August 31, 2023, they received 198,828 consumer service requests, including 14,374 complaints, 40 complaints indicating violations, and 1,466 disputes. Friderica mentioned that the majority of complaints were related to the banking sector, financial technology industry, financing companies, insurance, and other non-bank financial sectors. OJK continues to work diligently to resolve these complaints, whether they involve disputes or violations.

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