Fight Against Financial Scams Intensifies as Losses Top Rp 2.1 Trillion

 

JAKARTA, investortrust.id — Indonesia’s financial regulator has ramped up efforts to combat fraud in the financial sector, receiving more than 100,000 scam-related reports as of April 2025, with reported financial losses reaching Rp 2.1 trillion, or approximately $132 million.

 

The Indonesia Financial Services Authority, known as Otoritas Jasa Keuangan or OJK, revealed the figures during its monthly board of commissioners meeting. The agency, along with members of the Illegal Financial Activities Eradication Task Force, known locally as Satgas PASTI, established the Indonesia Anti-Scam Centre (IASC) to centralize fraud reporting and response mechanisms. The initiative is supported by banking and payment system associations.

 

By April 30, the IASC had received 105,202 reports, of which 70,819 were submitted through financial service providers and 34,383 were reported directly by victims via the IASC system.

 

“We are continuously improving IASC’s capacity to expedite fraud case resolutions within the financial sector,” said Friderica Widyasari Dewi, Chief Executive Supervisor of Financial Service Business Conduct, Consumer Education, and Protection at OJK, in a virtual press conference on Friday, May 9.

 

Friderica, who is popularly known as Kiki, noted that 172,624 bank accounts were flagged in scam reports, and 42,504 of them have been frozen. The total value of blocked funds stood at Rp 138.9 billion, roughly $8.7 million.

 

In addition to scam prevention, OJK has been active in enforcing consumer protection regulations. Between January 1 and April 30, 2025, the regulator issued 55 written warnings to 49 financial service providers and imposed 23 administrative fines on 22 entities. During the same period, 93 institutions compensated consumers for financial losses totaling Rp 17.68 billion and $3,281.

 

OJK also highlighted actions taken against misleading financial advertisements. From January to April, the authority issued two administrative fines and two written warnings for violations concerning the accuracy of information in ads. In response to these breaches, OJK ordered the removal of non-compliant advertisements and directed specific corrective actions to prevent recurrence.

 

“Such enforcement ensures that financial institutions continuously comply with consumer protection standards,” Kiki emphasized.