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Home Blockchain

Indonesian government to block socmed accounts promoting illegal investment

by Siti Sarifah Aliah
February 23, 2022
in Blockchain, Fintech, News
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Gizmologi.com — Cases of illegal investments that are considered detrimental to many people in Indonesia are increasing, especially those related to crypto tokens or trading. It is believed that the public does not yet have proper literacy regarding this kind of investment.

Therefore, Indonesia’s Ministry of Communication and Informatics has asked social media owners not to make any promotions or endorsements related to illegal investments.

In an official statement presented by the Ministry of Communication and Information spoke person, Dedi Permadi, said that although advertising and product promotion activities domain are below the Ministry of Trade, his side has the right to facilitate the supervision of any activities of electronic system operators. So it is very possible if they block some accounts.

“The Ministry of Communication and Informatics facilitates the supervision of the activities of electronic system operators by cutting off access to promotional content for investment products that violate the laws and regulations as requested by the Ministry of Trade. We urge social media account owners not to promote products that violate the laws and regulations,” said Dedi, Wednesday, February 23, 2022.

However, the government also does not solely blame social media owners for promoting illegal investments, at the same time, Kominfo is committed to inviting netizens to actively build a positive and productive digital space.

“We invite the public to be more careful when involved in investment activities. Don’t be easily tempted by promises of high profits, or other similar offers. Always check the legality of the platform, and report it to the competent authority if you find a violation of the applicable laws and regulations,” said Dedi.

He added, the Ministry of Communications and Informatics invites all Indonesian people to jointly improve digital literacy skills so that they can use the internet productively, and not to get involved in online activities that violate applicable legal provisions.

It is known, currently, there are many types of lucrative investments, offering fast profits in high amounts. Interestingly, the owners of the blue tick program often promote these investment products and are able to attract the masses (individual investors) in large numbers which are directly proportional to the amount of investment collected. Instead of getting big profits, novice investors complain that their money has been forfeited because the products invested have suffered losses.

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