Everyday money
Investment scams in Indonesia: warning signs, checking legality and reporting
Signs of investment scams in Indonesia such as guaranteed returns, arisan with interest and influencer hype; checking OJK and Bappebti licences; how to report.
English edition. Official forms and source documents may be in Indonesian.
QUICK ANSWER
How do I spot an investment scam, check whether it is legal and report it?
Investment scams usually promise high, guaranteed and quick profits, are vague about the product or business model, and are often promoted by public figures. Before paying in, apply the Legal and Logical principle: make sure the provider and product are licensed by the right authority (OJK, including for crypto assets since 10 January 2025, or Bappebti for commodity futures trading), and compare the returns with something reasonable such as a deposit account. Report illegal offers at sipasti.ojk.go.id; if money has already gone, contact your bank immediately and report it at iasc.ojk.go.id.
See 11 official references ↓Report an illegal investment to OJK’s SIPASTI ↗sipasti.ojk.go.id
Guide contents
What to have ready
- The legal entity name (PT company or cooperative), product name, app, website and social media accounts of whoever is offering it.
- Brochures, screenshots of promised returns and the chat groups where the offer was shared.
- The bank account number you were asked to pay into, and proof of transfer if you have already joined.
- A short timeline: when, from whom and how you received the offer.
- An active email address to receive your report number from SIPASTI or IASC.
How to check and report
Pause before paying anything
Offers that feel urgent, such as limited places or a bonus for today only, are a tactic to stop you checking. Do not transfer anything until you have finished checking.
Check the provider’s and product’s licence
Ask for the legal entity name and its licence. Make sure the licence comes from the authority responsible for that activity: OJK for financial services and crypto assets, Bappebti for commodity futures trading. If unsure, ask Kontak OJK 157 or WhatsApp 081 157 157 157.
Match the website, app and accounts
Scammers often copy the names, websites or social media accounts of licensed companies. Compare the web address and app name with an official list you open yourself, not with a link the seller gives you.
Test whether the returns are logical
Compare the promised returns with deposit interest or mutual fund returns. High returns guaranteed with no risk, or fixed returns with no explanation of the business model, are warning signs.
Report to Satgas PASTI
Go to sipasti.ojk.go.id, choose Lapor Sekarang (Report now) and enter the entity’s name, website, phone number, timeline and evidence. Make a separate report for each entity. Your report number is sent to your email.
If money has already gone
Contact your bank on its official number straight away, report it at iasc.ojk.go.id and then make a police report. Do not pay more for so-called withdrawal fees, taxes or account opening.
Costs and the 2L principle
Checking legality through Kontak OJK 157 and reporting to SIPASTI or IASC needs no paid intermediary. Legitimate investments still carry risk; high returns promised with no risk are a warning sign, not a selling point.
| Type of activity | Authority | How to check |
|---|---|---|
| Banks, insurance, online lending, finance companies, capital markets | OJK | OJK’s directory of licensed institutions or Kontak OJK 157 / WhatsApp 081 157 157 157 |
| Crypto assets and other digital financial assets | OJK (since 10 January 2025, previously Bappebti) | OJK’s list of digital financial asset trading operators (latest position 22 September 2026); the asset must be on the Crypto Asset List |
| Commodity futures trading through brokers | Bappebti (Ministry of Trade) | Bappebti’s list of futures brokers and brokers whose licences were revoked |
| Pawn businesses | OJK (licence required by 12 January 2026) | Kontak OJK 157 |
| Arisan with interest, money or gold deposit schemes with fixed returns, recruitment schemes | Not a licensed product unless an authority has licensed it | Report at sipasti.ojk.go.id |
The Satgas PASTI 2L principle: Legal means the product or service comes from a provider licensed and supervised by the relevant authority; Logical means the returns are reasonable compared with deposits, mutual funds or similar real businesses.
Warning signs of an investment scam
An illegal investment (investasi bodong) is an offer from a party that is not registered or licensed by the relevant authority. According to the Satgas PASTI booklet (August 2026), typical features include promising high returns quickly with low or even no risk; an unclear product, often using multi-level marketing; using influencers or public figures; showing fake testimonials; and pressure suggesting the opportunity is very limited.
In a press release of 26 May 2026, Satgas PASTI also warned about funding offers that promise fixed returns but give no explanation of the business model, and about crypto trading by unlicensed parties claiming high profits with no risk.
Arisan, deposit schemes, copycats and influencer promotion
Satgas PASTI has stopped online arisan (rotating savings group) offers run through Facebook groups and warned about schemes that copy the names, websites or social media of licensed entities (press release, 24 January 2025). Be wary of an arisan that promises a fixed extra payout, keeps looking for new members or is run by people you do not know.
Deposit or titip schemes, for example leaving money or gold with someone in return for a fixed monthly payout, fall under the pattern of fixed returns without an explained business model that Satgas PASTI has warned about. Pawn businesses must also be licensed by OJK; the deadline for licensing was 12 January 2026, and Satgas PASTI shut down illegal private pawn operators in April–May 2026.
Promotion by celebrities or influencers is not proof of legality. In June 2026 Satgas PASTI summoned several key opinion leaders (KOLs) and stopped activities promoting unlicensed digital asset traders; some content was taken down.
Who supervises crypto assets and commodities
Since 10 January 2025, the regulation and supervision of digital financial assets, including crypto assets and financial derivatives in the capital market, have moved from Bappebti to OJK under Law 4/2023 on Developing and Strengthening the Financial Sector. Derivatives based on money markets and foreign exchange moved to Bank Indonesia. OJK and Bappebti formally ended the transition period on 20 January 2026.
OJK publishes its list of digital financial asset trading operators on its licensing page; as of 14 October 2026 the latest position was 22 September 2026. OJK asks the public to trade only with traders on that list through the apps and websites it names, and Satgas PASTI asks people to make sure the crypto asset traded is on the Crypto Asset List (Daftar Aset Kripto).
Commodity futures trading, meaning buying and selling commodity futures contracts through futures brokers, was not part of the transfer. Bappebti’s website lists futures brokers and those whose licences were revoked. Some crypto menus still appear on Bappebti’s website, but crypto supervision now sits with OJK.
How to report and what to expect
SIPASTI (the Illegal Financial Activity Eradication System) at sipasti.ojk.go.id takes reports about illegal investments, illegal online lenders, copycat entities, illegal pawn services and other illegal financial activity for Satgas PASTI to act on. Questions can be sent to 157 or satgaspasti@ojk.go.id.
If you have already lost money, a SIPASTI report alone is not enough. Contact your bank and report the transaction to IASC at iasc.ojk.go.id so the scammer’s account can be blocked where possible, then make a police report. There is no guarantee of getting money back, and anyone offering to recover funds for a fee should be treated with suspicion.
Things to check carefully
- Treating promotion by a celebrity, influencer or well-known figure as a guarantee that an investment is legal.
- Assuming that a company with legal-entity status or a general business licence may automatically collect investment money. The licence must come from the authority responsible for that activity.
- Checking legality through links, documents or licence screenshots sent by the seller. Open the official website yourself or contact Kontak OJK 157.
- Bringing in family and friends to earn a recruitment bonus. This is often a sign of a scheme that just recycles new members’ money.
- Paying more for "tax", a "withdrawal fee" or an "account upgrade" so that profits can be released.
Frequently asked questions
What are the main signs of an investment scam?
It promises high, guaranteed and quick profits with low or no risk. Other signs listed by Satgas PASTI: an unclear product or business model, multi-level marketing, promotion by influencers, fake testimonials and pressure to join immediately.
How do I check whether an investment is legal?
Ask for the legal entity name and its licence, then make sure the licence comes from the right authority: OJK for financial services and crypto assets, Bappebti for commodity futures trading. You can ask Kontak OJK on 157, WhatsApp 081 157 157 157 or konsumen@ojk.go.id.
Who supervises crypto assets now?
OJK. Regulation and supervision of digital financial assets, including crypto assets, moved from Bappebti to OJK on 10 January 2025, and the transition formally ended on 20 January 2026. Check OJK’s list of digital financial asset trading operators on its website.
Can an online arisan be an illegal investment?
Yes. Satgas PASTI has stopped online arisan offers run through Facebook groups. Be wary of an arisan that promises a fixed extra payout, keeps recruiting new members or is run by people you do not know personally.
Is an investment safe if influencers promote it?
No. The Satgas PASTI booklet says illegal investments often use influencers or public figures to win people’s trust. In June 2026 Satgas PASTI stopped activities by several KOLs promoting unlicensed digital asset traders.
Where do I report an investment scam?
To SIPASTI at sipasti.ojk.go.id. Have the entity’s name, website, phone number, timeline and evidence ready, and make a separate report for each entity. If you have already transferred money, also report it to your bank and at iasc.ojk.go.id.
Can I get back money I have already paid in?
There is no guarantee. The chance of the money being blocked is higher if you report to your bank and IASC straight away. Make a police report too, and do not pay anyone who promises to recover your money.
What is the 2L principle?
2L stands for Legal and Logis (Legal and Logical). Legal: the product or service comes from a provider licensed and supervised by the relevant authority. Logical: the returns offered are reasonable compared with deposits, mutual funds or similar real businesses.
Sources and review
Editorial review of public information: . This is not a review by an agency officer or a professional adviser. Reviewed by Kaiser Khan, publisher of Panduan Warga. Official document titles are retained below.
- OJK: Booklet Waspada Penipuan (Scam) Mengintai Kita (Satgas PASTI, Agustus 2026) ↗ojk.go.id · Accessed 14 October 2026
- OJK: Satgas PASTI hentikan 953 entitas pinjol ilegal dan penawaran investasi ilegal (26 Mei 2026) ↗ojk.go.id · Accessed 14 October 2026
- OJK: Satgas PASTI blokir 796 entitas ilegal Oktober–Desember 2024 (24 Januari 2025) ↗ojk.go.id · Accessed 14 October 2026
- OJK: Satgas PASTI hentikan kegiatan KOL yang menawarkan PAKD tidak berizin (18 Juni 2026) ↗ojk.go.id · Accessed 14 October 2026
- OJK: Satgas PASTI hentikan 27 gadai swasta ilegal dan 228 PAKD ilegal (22 Juni 2026) ↗www.ojk.go.id · Accessed 14 October 2026
- OJK: Bappebti alihkan tugas aset keuangan digital termasuk aset kripto kepada OJK dan BI (10 Januari 2025) ↗ojk.go.id · Accessed 14 October 2026
- OJK: OJK dan Bappebti akhiri masa transisi peralihan pengawasan aset keuangan digital (20 Januari 2026) ↗ojk.go.id · Accessed 14 October 2026
- OJK: whitelist penyelenggara perdagangan aset keuangan digital dan aset kripto berizin (19 Desember 2025) ↗ojk.go.id · Accessed 14 October 2026
- OJK: perizinan ITSK, aset keuangan digital, dan aset kripto (daftar posisi 22 September 2026) ↗www.ojk.go.id · Accessed 14 October 2026
- Bappebti: daftar pialang berjangka ↗bappebti.go.id · Accessed 14 October 2026
- OJK: SIPASTI ↗sipasti.ojk.go.id · Accessed 14 October 2026
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