DENPASAR ~

Financial Services Authority (OJK) of Bali urged people on the Island to be wary of fake or illegal investment products with the lure of high profits and interest.

“OJK appealed to the public in conducting any financial transactions in the form of investment to always pay attention to rationality, risks, costs, and benefits,” said the head of OJK Bali Zulmi in Denpasar on Sunday.

According to him, his party continues to coordinate with Investments Alert Task Force to monitor and follow up public reports that meet the illegal investment criteria.

Investment Alert Task Force, he said, is a coordination forum established by OJK, Commodity Futures Trading Regulatory Agency (Bappepti), Directorate General of Domestic Trade (DJPDN), Ministry of Commerce, Police Headquarters, Attorney General Indonesia Republic, the Ministry of Cooperatives and Small Business Medium, Ministry of Communications and Information Technology and Investment Coordinating Board (BKPM).

He reminded the public to take part in reporting cases of suspected illegal investment to OJK or police office.

The characteristics that can be anticipated by the community toward fake business activities are that there is no permit from the competent authority, the absence of an explanation of the basic business aspects of investment activities that meet the fairness and propriety in any investment activity, the absence of an explanation of how the investment is managed, unclear official, ownership and business activity structure, and unclear business address.