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Financial scams cause losses of hundreds of millions of USD in Indonesia

Founded by the OJK in November last year, the IASC aims to prevent financial fraud, particularly in the digital environment. As of October 16, it received more than 299,000 reports, with a total of 94,344 bank accounts blocked, amounting to 376.8 billion IDR.

Friderica Widyasari Dewi, OJK's Chief Executive for Market Conduct Supervision, Education, and Consumer Protection, speaks at a media gathering in Purwokerto, Central Java, October 18, 2025. (Source: ANTARA/Muhammad Baqir Idrus Alatas/rst)
Friderica Widyasari Dewi, OJK's Chief Executive for Market Conduct Supervision, Education, and Consumer Protection, speaks at a media gathering in Purwokerto, Central Java, October 18, 2025. (Source: ANTARA/Muhammad Baqir Idrus Alatas/rst)

Jakarta (VNA) – The total financial losses suffered by the public in Indonesia from scams in the financial sector reached 7 trillion IDR (approximately 438 million USD) between November 22, 2024, and October 16, 2025, data from the Indonesian Anti-Scam Centre (IASC) showed.

As reported by the national news agency Antara, Friderica Widyasari Dewi, Chief Executive for Market Conduct Supervision, Education, and Consumer Protection at Indonesia’s Financial Services Authority (OJK), said the agency is taking these cases seriously and continue to improve the anti-scam centre's performance to ensure better consumer protection.

Founded by the OJK in November last year, the IASC aims to prevent financial fraud, particularly in the digital environment. As of October 16, it received more than 299,000 reports, with a total of 94,344 bank accounts blocked, amounting to 376.8 billion IDR.

According to Friderica, the most common scams involved online shopping, fraudulent calls, investment schemes, fake job offers, prize scams, and social media fraud. Other cases included phishing, social engineering, fake online loans, and illegal Android Package Kit (APK) links sent via WhatsApp./.

VNA
#Financial scams Indonesia #Indonesian Anti-Scam Centre #Financial Services Authority OJK Indonesia
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