This is necessary for preventing illegal or fraudulent investment practices that could harm the public.  (photo: medcom.id)
This is necessary for preventing illegal or fraudulent investment practices that could harm the public. (photo: medcom.id)

Influencers Urged to Be Selective in Endorsing Financial Products

English OJK investment influencer finance
Antara • 02 February 2022 14:47
Palangka Raya: The Financial Services Authority (OJK) has asked influencers and public figures to be selective in accepting offers for endorsing financial products, especially those related to investments.
 
"You have to be selective. Don't just blindly accept the offers," head of the Central Kalimantan Financial Services Authority, Otto Fitriandy, said when contacted in Palangka Raya on Tuesday.
 
He explained that this is necessary for preventing illegal or fraudulent investment practices that could harm the public.

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Fitriandy then drew attention to various illegal investment cases recorded so far. Often there were influencers, artists, and public figures involved, who were unaware of the illegal status of the products or services they endorsed, he said.
 
"They didn't know that they were being used, their influence was being abused, so that people would participate in the investment," he added.
 
To avoid similar cases from happening in the future, influencers and public figures should not randomly accept endorsement offers related to financial products or services, he said.
 
He stressed that influencer endorsement is usually one of the methods adopted by those offering illegal or fraudulent investments.
 
The influencers, on their part, could consult with the Financial Services Authority to ensure that the product or service they are endorsing is truly legal and in accordance with applicable regulations, he said.
 
The Financial Services Authority is extensively educating the Central Kalimantan public, including influencers and public figures, about the financial services sector, he added.
 
"Influencers, or public figures, have an important role in helping educate the public. Because their social media, in particular, are always seen by the public," he explained.
 
However, if any influencers are found promoting illegal investments, it is within the authorities' scope to investigate and determine whether they are at fault or not, he said.
 
 
(WAH)
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