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Indonesian OJK Agency Says Snack Video is an Illegal Application

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Any smartphone user who frequently surfs on social media must be familiar with Snack Video. The short video maker application that emerged as a new competitor to TikTok has indeed been marketed on a large scale, so it has become the subject of a lot of discussion because this application is said to be able to generate money for its users.

However, despite its booming popularity, this application was declared illegal by the Financial Services Authority of the Republic of Indonesia (OJK) which is also based on the supervision of the Central Investment Alert Task Force (SWI). In the latest SWI meeting on February 18, Snack Video was declared an illegal application because it did not have a permit and was suspected of using the Money Game scheme (games that make money).

Mohammad Fredly Nasution, who is the head of OJK, urges the public to avoid all activities with this application, let alone invest in it. Apart from Snack Video, other applications that have also been declared illegal are Tiktokcash and Vtube, which are currently blocked. All these applications have the same scheme, where users can earn money just by doing simple tasks, but at the same time they have to pay to become members and become referrals by inviting more new users.

Snack Video was actually developed by a Chinese company Kuaishou Technology which has a clear track record. After being developed since 2011, now the application has been released in more countries including Indonesia with a new name. Kuaishou Technology even received investment from Tencent which further strengthened its position as a legit company.

Of course, this doesn’t change the fact that Snack Video is now labeled as an illegal application, but at least some people know a little more about the background of the developer.

Source: Compass

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