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Hundreds of Facebook and Instagram Accounts of Illegal Futures Broker Gets Blocked

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Hundreds of Facebook and Instagram Accounts of Illegal Futures Broker Gets Blocked
Arif Rahman Diposting : Jumat, 19 Juni 2020 - 14:06 WIB

Cyberthreat.id - The Ministry of Trade through the Commodity Futures Trading Regulatory Agency (Bappebti) blocked hundreds of social media accounts and domain sites of entities that did not have business licenses as futures brokers in May 2020. 

The blocked social media accounts consist of 112 Facebook pages and 73 Instagram accounts, while the entity domain sites are 45.

Between January - May 2020 period, Bappebti has blocked 262 illegal entity site domains, 112 Facebook pages, and 73 Instagram accounts.

"This blocking aims to limit the space for entities that do not have business licenses as futures brokers and create legal certainty for the community," Head of Bappebti Tjahya Widayanti said in a press release on Friday.

Bappebti is also intensively monitoring, supervising, and analyzing several YouTube channels that will later be blocked. According to Tjahya, Bappebti will continue to observe and supervise illegal activities in the field of commodity futures trading.

The government, he said, did not want the public to be harmed by the activities of raising funds in the field of commodity futures trading without getting permission from Bappebti.

"For this reason, the public is advised to be more observant, conscientious, and careful in choosing the type of investment so that they do not regret later on," he said.

To narrow the space for these illegal entities, Bappebti also plans to block the media used to offer advertisements and promotion of illegal commodity futures trading activities. The move is expected to minimize illegal investment activities in the community.

"In addition, Facebook and Instagram are expected to help the government suspend illegal legal pages or accounts requested by Bappebti to be blocked through the Ministry of Communication and Information," explained Tjahya.

Educating the Community

Head of the Regulatory and Law Enforcement Bureau Bappebti M. Syist said the blocking was aimed at providing education to the public. When getting offers through social media and other media, the public will access the entity's website domain from the offer to register as a prospective customer.

"If the main site's domain cannot be accessed or blocked, people should be able to realize that the site's domain has violated the provisions of the laws and regulations in Indonesia, so that it is blocked by the government," said M. Syist.

According to him, every party having legal status in Indonesia and / or abroad that has not yet obtained a business license from Bappebti, is strictly prohibited from conducting commodity futures trading activities, among others through promotions or advertisements, training, and meetings regarding commodity futures trading in Indonesia.

M. Syist also asked the public to be more thorough and always check the legality of futures brokers. Especially in the benefits offered. Whether the offer is reasonable and reasonable needs to be considered.

"The public is expected not to be tempted by promises of profit outside the fairness and learn in advance about the mechanism of transactions, profits, and losses. So, these investments must have clear legality and provide logical benefits," he said.

#Bappebti   #Social   #Media   #Fraud   #Futures   #Brokers   #Facebook   #Instagram   #Youtube

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