The 2016 regulation requiring investment platforms to register should cover CFDs. It doesn’t. Online CFD trading platforms operate freely, ignoring Indonesian law. OJK sees the ads, knows the platforms exist, and tracks money flowing to Cyprus and Seychelles. They claim foreign entities are untouchable. Meanwhile, local banks get fined for minor compliance issues.
Leaked OJK memos show they consider retail CFD trading illegal. These never become public policy. Bank compliance officers receive instructions to flag CFD-related transfers. Reports pile up. Nothing happens. The transfers continue, the reports keep coming, OJK keeps filing them away.
CFDs don’t exist in OJK’s investment classification system. Stocks, bonds, mutual funds, even crypto gets categories. CFDs? Pretend they’re not real. Can’t regulate what you refuse to acknowledge.
Licensed financial advisors can’t mention CFDs without risking suspension. Instagram “traders” promote CFD platforms daily with zero consequences. OJK hammers legitimate professionals following rules, ignores actual scammers. Backwards enforcement protecting nobody.
Banks report international transfers as required. Millions flowing to known CFD brokers in offshore jurisdictions. OJK receives these reports, archives them, and takes no action. Complete visibility, zero enforcement.
Complaint about a licensed Indonesian broker? Immediate investigation. Complaining about offshore CFD losses? Template response: “Outside jurisdiction, should have used licensed products.” Victims get blamed for falling into traps OJK refuses to warn about.
Tax authorities treat CFD profits as taxable income. OJK says CFDs aren’t legitimate investments. So Indonesians pay taxes on profits from allegedly illegal activities. The government takes its cut from products it claims shouldn’t exist.
Financial literacy programs teach about mutual funds, stocks, and avoiding ponzis. The actual biggest threat to Indonesian investors? Never mentioned. OJK knows who CFD marketing targets. Won’t include warnings in education materials.
The 2018 sandbox program could’ve legitimized willing platforms. Several CFD brokers applied to operate legally under Indonesian rules. Every application is rejected without explanation. OJK doesn’t want regulated CFDs or unregulated ones. They want the issue to vanish.
Money laundering through CFD platforms is obvious. Dirty money becomes “trading losses.” Perfect washing machine. OJK focuses on small money changers while billions flow through online CFD trading platforms unchecked.
Banks and insurance companies trade CFDs through prime brokers legally. Retail investors can’t touch them. Too dangerous for individuals, safe enough for institutions managing pensions. Double standard nobody discusses.
Singapore strictly regulates CFDs. Malaysia bans retail access. Thailand requires licensing. Indonesia? Head in sand while neighbors protect citizens.
Indonesian influencers promote CFDs without risk warnings. Violates existing marketing rules OJK could enforce today. They don’t. Platforms advertise everywhere, OJK pretends not to notice.
Different OJK departments can’t agree on a CFD approach. Capital markets want prohibition. Banking supervision prefers monitoring. Consumer protection pushes regulation. During their turf war, traders lose everything.
Around 2019, some platforms offered to follow Indonesian rules. Segregated accounts, transparent pricing, investor protection. OJK wouldn’t even schedule meetings. They don’t want compliant providers or non-compliant ones. They want the topic to disappear.
OJK has fraud data but won’t share it with police. Police investigate scams but don’t consult OJK. Agencies guard territory while criminals operate in gaps between jurisdictions.
Senior OJK officials track exact numbers, how much trade, how much flows offshore. Internal reports detail everything. Public position? “No data on unregulated activities.” They have data, and won’t admit it.
COVID emergency powers could’ve frozen suspicious financial flows. Billions leaving for offshore platforms qualified as an economic threat. Powers used for everything except protecting retail investors.
OJK’s actual strategy? Wait for enough Indonesians to lose everything and quit naturally. No political fight, no admission of failure. Let carnage run its course. New victims join daily because OJK refuses to sound alarms about what’s really happening.