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KILASCIMAHI - The People's Thoughts Media Network (PRMN) has decided to take a stand regarding the rise of Pinjol or illegal online loans which is increasingly disturbing.
The existence of this illegal loan has caused thousands of people to be trapped by high interest rates and a dishonest financial system.
This was revealed from the many reports, news and contents of the victims' stories.
This is also what made PRMN finally have to act regarding the existence of this illegal Pinjol
Pinjol refers to a loan service available online where individuals or business people can apply for a loan through a digital-based platform or application. Because it is completely digital, the borrowing process is easier but has high interest rates and certain risks that can harm borrowers.
Several loan service providers provide fast and safe loan funds, making them a tasty choice for those who need instant money. However, there are also those who are involved in unethical practices and charge very high interest rates.
The Financial Services Authority report stated that 17.31 million people borrowed money through loans with a total debt of IDR 50.53 trillion as of April 2023.
Recently, the value of the diction 'pinjol' with its various variants such as 'mobile bank', 'emok bank', 'daily credit', 'unsecured loans', 'fast loans', or taking refuge in the term 'peer-to-peer lending' to be softer than its true meaning.
The use of various terms makes the threat behind them increasingly subtle. In fact, illegal loan sharks are actually loan sharks.
Endless shortcut loan sharks that make you anxious
Loan sharks are entities that lend money to individuals or business people at high interest rates. Loan sharks often operate outside the official banking sector and are not regulated by legal financial institutions. Loan sharks can be found in various forms, including individuals, groups, or small business institutions that are not licensed to lend funds.
