Indonesian Task Force Shuts Down Universal Peak and BAFI Group Indonesia for Illegal Financial Activities

Indonesia's Satgas PASTI (Task Force for Combating Illegal Financial Activities) has halted operations of Universal Peak and BAFI Group Indonesia, two companies accused of conducting unlicensed financial schemes that defraud consumers. The enforcement action was taken to protect the public from widespread illegal investment practices and unregulated lending services operating within the country.

Universal Peak, which claims to be part of a Colorado-based entity, was found to operate fraudulent stock investment schemes without authorization from the Financial Services Authority (OJK). The company solicited deposits from members under the guise of offering returns from stock investments and Initial Public Offering (IPO) allocations, then distributed fictional IPO share allocations randomly to participants. Verification by Satgas PASTI confirmed that Universal Peak lacks OJK licensing, does not comply with investment ministry registration requirements, and its digital platforms are not registered as legitimate electronic service providers.

BAFI Group Indonesia, meanwhile, operated a predatory debt consultation service that targeted borrowers already struggling with illegal online loans. The company's scheme involved directing victims to default on existing loans, then proposing to resolve their debt by initiating new loans through other platforms using the victims' personal data. BAFI Group charged fees extracted from portions of newly disbursed loan funds, all while falsely claiming OJK registration and licensing. Satgas PASTI's investigation determined the company held no valid authorization from OJK or other relevant regulators.

Hudiyanto, representing the Satgas PASTI secretariat, outlined the findings in an official statement released Thursday, June 18, 2026. The task force has blocked access to both entities and coordinated with law enforcement authorities to pursue legal action against the companies for their violations. These enforcement actions are part of ongoing efforts to combat the proliferation of fraudulent investment schemes and illegal lending operations increasingly prevalent in Indonesian society.