In Indonesia, minimum wages vary by regions, ranging from US$107 in Yogyakarta to US$222 in Papua – so interest quickly results in debts becoming unbearable. Photo: EPA-EFE

Indonesia’s online P2P loan sharks are driving people to suicide

  • There’s a dark side to Jakarta’s embrace of the digital revolution: unchecked online lending services with increasingly aggressive debt-collection methods
  • Total loans from registered lenders hit US$1.07 billion last October, but there are plenty more illegal lenders taking advantage of exorbitant interest rates
Topic |   Indonesia

TOP PICKS

In Indonesia, minimum wages vary by regions, ranging from US$107 in Yogyakarta to US$222 in Papua – so interest quickly results in debts becoming unbearable. Photo: EPA-EFE
READ FULL ARTICLE