Indonesia's Financial Services Authority (OJK) published an update on its supervisory actions toward PT Akseleran Keuangan Inklusif Indonesia (AKII), a licensed online lending platform (Pindar), including an examination of management and shareholders and the imposition of administrative sanctions. The supervisor has directed AKII’s controlling parties to promptly address the firm’s issues, with a priority on meeting obligations to lenders. OJK’s measures include an on-site inspection and a comprehensive review of AKII’s operations, infrastructure, and root causes, including assessing whether the business model aligns with applicable requirements, followed by instructions for corrective steps. Supervision also includes close monitoring of concrete progress on repaying lenders, resolving problematic financing, and implementing fundamental improvements, alongside expectations for proper user service and responsiveness; OJK also flagged potential law enforcement action where violations are proven or commitments are not met, including reassessing key persons under the applicable framework. In parallel, OJK reiterated broader regulatory and supervisory strengthening for the Pindar sector, referencing the 2023–2028 industry roadmap and POJK 40/2024, alongside measures such as limits on borrower charges, a cap limiting borrowers to funding from a maximum of three Pindar platforms, mandatory risk disclaimers and borrower self-declarations, minimum borrower age of 18 and minimum income of IDR 3,000,000, limits on lender placement amounts by lender type with reference to income, and supervisory expectations including disbursing funds only to an Indonesian bank account in the borrower’s name, stronger e-KYC and credit scoring, controls on funding to borrower affiliates lacking financial capacity, and strengthened internal controls and anti-fraud arrangements, with sanctions up to business license revocation and follow-on processes for suspected financial sector crimes in cooperation with law enforcement.
OJK 2025-07-01
Indonesia's Financial Services Authority sanctions Akseleran and orders remedial actions while setting out tougher oversight for online lending platforms
Indonesia's Financial Services Authority (OJK) has taken actions against PT Akseleran Keuangan Inklusif Indonesia (AKII), including management examination and sanctions, to address lender obligations and operational issues. Measures involve inspections, reviews, and monitoring AKII's progress, with potential law enforcement for non-compliance. OJK also emphasized regulatory enhancements for the Pindar sector, including borrower charge limits, platform caps, and strengthened controls.