Alert! There is an illegal loan under the guise of a cooperative, the office address is fictitious

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The Ministry of Cooperatives and SMEs (Kemenkop UKM) has detected illegal cooperative offices and illegal online lending practices under the guise of cooperatives. This finding is based on the results of the search for the address used by the Savings and Loans Cooperative Solutions Andalan Bersama (SAB) and the cooperative’s office was not found at the address listed, so it is suspected that the cooperative used a fictitious address as an office address.

“There are 2 cooperative individuals who use the same cooperative name. While the other 82 are legal entities, but do not have a savings and loan business license, so legally those concerned are not valid or cannot serve savings and loans or lending and borrowing businesses,” said Deputy for Cooperatives at the Ministry of Cooperatives and SMEs, Ahmad Zabadi, Saturday (10/30/2021).

Meanwhile, Ahmad Zabadi stated that the Terms of Service Cooperatives that want to open an online loan service business must have a legal business license issued by the Financial Services Authority (OJK).

“Cooperatives can actually run online loan businesses. However, cooperatives that can run online loan services are only Service Cooperatives, not Savings and Loans Cooperatives (KSP) and this has been regulated in POJK Number 77 of 2016. Savings and Loans Cooperatives are not allowed to practice online lending , only Cooperative Services only,” he explained.

His party has searched the address used by the Mutual Mainstay Solutions Savings and Loan Cooperative (SAB), as the office address in the Jalan Letjen S Parman area, Slipi, West Jakarta.

“With the search results, no cooperative office was found at that address, so it is suspected that the cooperative used a fictitious address,” he said.

Not only that, the search was carried out in one of the buildings in the Tendean area, South Jakarta. It was found that there were at least 20 cooperatives that used virtual office facilities to practice lending illegally in recent times.

“Many Savings and Loan Cooperatives use virtual office facilities as office addresses. We urge the managers of virtual office facilities to no longer provide virtual office facilities to Savings and Loan Cooperatives, so that this kind of thing does not happen again, “concluded Zabadi.