Money Making Application, Video Snack Declared Illegal By OJK

Recently, a number of social media platforms have been enlivened by the presence of a short video application, Snack Video, which is said to make money just by watching videos.

This TikTok competitor application was declared illegal by the Financial Services Authority (OJK) because it did not have a permit.

The head of the Southeast Sulawesi Financial Services Authority (OJK), Mohammad Fredly Nasution, said that the Snack Video application had been discussed by the Investment Alert Task Force (SWI) and was labeled as an illegal application.

“Snack Video was discussed at the SWI meeting on February 18, 2021 and was declared illegal because there was no permit and was suspected of being a money game (money game)”, said Fredly, (25/2/2021).

Snack Video is currently being discussed because the application is rumored to be able to make money just by watching short videos. With a number of tasks given by Snack Video to its users, such as login give, watch videos, to invite friends with a referral code.

“Therefore, the public is asked to be aware of this activity, because it only sells membership, not property ownership, said Fredly.

Things to watch out for

There are several things you should pay attention to regarding applications that are indicated to offer this money game.

First, understand and ensure that the party offering the investment has obtained permission from the competent authority in accordance with the business being carried out.

Second, ensure that the party offering the investment has a license and is registered as a marketing partner.

Third, ensure that if there is an inclusion of an agency or government agency logo in the offer, it has been carried out in accordance with the provisions of the legislation.

Finally, use common sense on the reasonableness of profits or bonuses and the like for the products offered. If it feels unreasonable, then make sure it’s legal again. It can simply be summarized with 2L, namely Legal and Logical.

Source: Compass