UNDIP – Semarang (11/11). The Otoritas Jasa Keuangan (OJK) / Financial Services Authority of Jawa Tengah Province collaborated with Universitas Diponegoro to host a financial talk show event titled “Moneyfest” with the theme “Revive the Spirit of Heroism to Achieve Financial Independence,” held at the Prof. Soedarto, SH building, UNDIP Tembalang campus. Moneyfest is an educational, financial talk show aimed at providing understanding and education on being aware of illegal online loans, fraudulent investments, and online gambling. This event was held to commemorate Heroes’ Day and marked the culmination of Financial Inclusion Month in Jawa Tengah Province.
The event featured keynote speakers, including the Chief Executive of Banking Supervision at OJK and Member of the OJK Board of Commissioners, Dian Ediana Rae, and the Rector of Universitas Diponegoro, Prof. Dr. Suharnomo, S.E., M.Si. The event was hosted by Raditya Dika, a well-known author, comedian, director, actor, and YouTuber. The participants included lecturers and students from Universitas Diponegoro. The event was designed as a podcast to make it more engaging and interactive.
During the dialogue led by Raditya Dika, Dian Ediana Rae, serving as Chief Executive of Banking Supervision and Member of the OJK Board of Commissioners, urged attendees and the public to be vigilant about the proliferation of illegal online loans, which continues to emerge. The advancement of technology has facilitated various aspects, including financial services, that make it easier to obtain loan facilities. Consequently, online loans are becoming more widespread. Besides online loans, other dangerous issues to be cautious of include online gambling and fraudulent investments. Previously, gambling activities were conducted in person, but technological advances now enable gambling to be conducted online.
The Rector of Universitas Diponegoro, Prof. Dr. Suharnomo, S.E., M.Si., highlighted the phenomenon of FOMO (Fear of Missing Out), which drives people to take online loans. FOMO describes anxiety or restlessness when someone feels worried about missing out on opportunities, experiences, or trends deemed necessary by others.
FOMO is more associated with social media, where seeing friends’ or acquaintances’ posts about exciting activities, vacations, travels, or events can trigger anxiety from not participating in those activities. This feeling leads to the desire to monitor others’ activities and make decisions based on fear of missing out rather than personal needs or desires.
The FOMO mindset is what leads individuals to decide to use online loans to buy something or participate in activities without considering the expenses or excessive consumption.
In this event, OJK also provided education on recognizing the characteristics of illegal online loans so that people can be aware of and avoid them. The attributes of illegal online loans include not being registered or licensed by OJK; offering through personal communication channels, such as SMS or WhatsApp; collectors without certification from AFPI (Indonesian Joint Funding Fintech Association); requesting access to all personal data on the borrower’s device; accessible loan provision; unclear management identity and office address; using threats, intimidation, and harassment towards borrowers unable to pay; unclear interest rates, loan fees, and penalties; and lacking a complaint service. (Ut-media relations)
