Swedish Consulate – The Chairman of the East Java Chamber of Commerce and Industry (Kadin), Adik Dwi Putranto, has emphasized that investing in stocks is far more profitable than engaging in online gambling. According to Adik, stock investments are not only suitable for young people but also for those who are uncertain about where to invest their funds. He suggested that individuals who have recently received their pension funds should consider investing in stocks, as it offers greater security compared to leaving the money in a bank or, worse, risking it in online gambling.
Moreover, with the current rise and stability in the stock market, there are numerous options available, ranging from agro stocks to mining and others. Meanwhile, the Head of the East Java Regional Office of the Indonesia Stock Exchange (IDX), Cita Melissa, highlighted several initiatives aimed at raising awareness and improving financial literacy among potential investors in East Java.
Beware of Fraudulent Investments
These initiatives are crucial in ensuring that the public is not deceive by fraudulent investment schemes or other harmful products, such as online gambling. Cita mentioned that the number of investors in East Java is still significantly low, with only 1.7 million investors out of a population of 42 million, underscoring the importance of awareness and financial literacy.
Additionally, IDX East Java is actively educating business owners on leveraging the capital market as a primary funding alternative for their companies, including the process of going public through an Initial Public Offering (IPO). Cita hopes to dispel the negative stigma surrounding the capital market, which is often perceive as being exclusive, by noting that some stocks are price as low as IDR 50 per share.
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Online Gamblers Risk Being Blacklisted by Banks
Previously, the Financial Services Authority (OJK) affirmed its commitment to combating online gambling. Those involved in online gambling may face blacklisting by financial institutions, including banks. The Chairman of the OJK Board of Commissioners, Mahendra Siregar, stated that the OJK is actively blocking bank accounts associated with online gambling, in collaboration with various parties, including banks.
“We are continuously working with financial institutions, including banks, to thoroughly investigate the account holders whose accounts have been block,” Mahendra said during an event at the Pullman Hotel in Jakarta on Friday (August 9, 2024).
One of the main objectives of these investigations is to identify the account holders involved in online gambling. The scope of this initiative will eventually expand beyond the current banks to include other banks associated with the same individual.
“Ultimately, the violator is not just the account, but the individual. Even if one account is block, the individual could still pose a threat to the integrity of financial institutions by engaging in illegal activities,” he explained.
Involving Law Enforcement
In the process of blocking accounts, banks, the OJK, and law enforcement agencies are collaborating to verify the validity of accounts used for online gambling. So far, over 6,000 accounts relate to online gambling have been block. Following further investigation, account holders involved in online gambling could face blacklisting by financial institutions.
“However, this process takes time. If it is proven that the individual has violate the law, then it is possible that all of their accounts could be blacklisted by financial institutions. But it must go through due process,” he concluded.
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