"Bappebti Blocks 760 Website Domains, Reminds of the Risk of Transactions in Unlicensed PBK Entities"
"jakarta, 20 september 2022 – the ministry of trade through the commodity futures trading supervisory agency (bappebti) blocked 760 entities consisting of 682 website domains, 48 social media pages, 17 applications on google play, 12 applications on the appstore, and one stop of activity on in the field of commodity futures trading (Pbk) which did not have a permit from Bappebti during January-August 2022. The blocking was carried out in collaboration with the Ministry of Communication and Informatics. "Any party carrying out futures trading activities in Indonesia must IB has a permit from Bappebti and is subject to and obedient to the provisions of the laws and regulations in force in Indonesia. even though they claim to have legality from overseas regulators, companies that make offers in the field of futures trading in Indonesia are still required to pay a fee IB do you have a permit from Bappebti," said Plt. Head of Bappebti Didid Noordiatmoko. didid added, Bappebti routinely conducts online observation and supervision of website domains and social media accounts that carry out promotions, advertisements, and offers in the Pbk sector as well as entity applications that carry out business activities in the Pbk sector without having permission from Bappebti. "supervision and observation as well as blocking is a preventive measure against potential losses to the community as an ak IB at from pbk activities without having a permit from Bappebti. Apart from that, it is also to provide legal certainty for the community and business actors in the Pbk sector," Didid added. didid reminded, transacting at a futures broker who does not have a business license from Bappebti is very risky. Bappebti as the regulator cannot facilitate customers in conducting mediation in the event of a dispute between the customer and the unlicensed entity. Head of the Bureau of Laws and Enforcement, Aldison added, the entity also does not have a representative office in Indonesia. if the customer feels aggrieved, no party can be held responsible. its existence abroad is also not certain its legality can be ascertained. it requires no small cost in resolving the dispute. "Apart from that, CoFTRA cannot ensure the integrity of the management and financial integrity of the entity. the security of funds deposited as transaction capital cannot be guaranteed because they do not use a separate account (segregated account) approved by CoFTRA," explained Aldison. people who are going to transact in the Pbk sector are advised to first study the background of the company, procedures for transactions and dispute resolution, commodity futures contracts offered, the legality of futures brokers, document agreements regarding risks faced, and not to be easily tempted by large profits in a short time and out of bounds. Before deciding to make a transaction, first know the profile and legality of business actors in the Pbk sector. this information can be accessed easily via the link http://ceklegalitas.bappebti.go.id," concluded Aldison."