Many are Trapped in Binary Options, this is the culprit

JAKARTA, KOMPAS.com – Practicing fraud under the guise of binary option or binary options have recently become more and more widely discussed, after many victims have opened up about the losses they have received.

Researcher from the Institute for Development of Economics and Finance (Indef) Nailul Huda assesses that many customers feel cheated from the case binary options this is due to the lack of digital literacy and financial literacy Public.

The low literacy rate makes there are still many people who are easily tempted by the lure of big profits, with relatively fast time, and relatively easy practice.

Also read: Confirmed Illegal, Binary Option Platform Ads Still Appear on Social Media

“There are two sides to why our society is experimenting with many types of investments that are illegal. The first is from the side of the people who want to get quick profits, but do not have strong digital and financial literacy,” Nailul said in his statement, quoted on Monday (14/14). /2/2022).

He further explained that people with low financial and digital literacy will become easy targets for fraudulent investment peddlers.

It is noted that the Indonesian people’s financial literacy index is currently only 38.03 percent and Indonesia’s digital literacy index is at the level of 3.49 in 2021.

“Digital literacy We are still considered bad which can be seen from the increasing number of cases of digital data theft to online fraud. Financial literacy also still very low, “he said.

Even when compared to other countries in the Southeast Asian region, Nailul added, the financial and digital literacy index of Indonesian society is still much lower.

“From here we can see that the Indonesian people are easy targets for fraudster under the guise of investment, both from outside and within the country,” he said.

According to him, the widespread loss of binary options users is not solely caused by the fault of the influence or affiliates alone, but there is also an element of government oversight in it.

Also read: Beware of Binary Options, Online Gambling Under the guise of Online Trading

He said that currently domestic regulations have not regulated the issue of influence or someone promoting illegal trading apps.

Thus, this illegal trading platform can freely pay or rent influence This is to promote their products.

“In addition, the rules for someone to spread fake news or platforms that indicate fraud on the internet are not yet strong. Fraudsters dare to hire influence to advertise the fraudulent platform, “Nailul said.

Also read: It’s Been Blocked since Last Year, Why Are Binary Options Still Growing?

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