Indonesia’s banking sector is strengthening strategies to prevent digital financial crime, focusing on education, advanced technology, and cross-agency collaboration. The move responds to the rise of new schemes such as the buying and selling of bank accounts and “account takeovers,” which have caused significant public losses.
Fransiska Oei, Head of Legal and Compliance at Perbanas, said banks have implemented a range of preventive measures. A key step is comprehensive education for customers, the public, and internal staff on digital crime risks and emerging tactics.
“Beyond education—including reminders on account-opening forms—we tell customers not to share passwords. Account takeovers are prohibited, and we can close such accounts if there are suspicions,” Fransiska said on Tuesday (Aug. 5, 2025).
In addition, to counter account-trading schemes, banks are tightening customer due diligence (CDD) and enhanced due diligence (EDD) while verifying data with the Population and Civil Registration Agency (Dukcapil).
“To mitigate risks, banks have begun verifying Dukcapil data and even conducting on-site visits to companies under suspicion. This step addresses challenges such as the use of fake Dukcapil data or the establishment of shell companies,” said Fransiska, who also serves as Director of Compliance, Corporate Affairs, and Legal at CIMB Niaga.
On supervision, banks are working with the Financial Services Authority (OJK) and Bank Indonesia (BI) to conduct stricter screening. Fransiska added that anti-fraud teams operate 24/7 to monitor suspicious transactions. These monitoring systems analyze not only transaction frequency and value but also track IP addresses—particularly those originating from high-risk countries.
Furthermore, investigations are carried out based on transaction patterns and similarities in email addresses across accounts. She noted that banks have expanded cooperation with aggregators, switching companies, and fintech firms to obtain additional data, especially when perpetrators are not direct bank customers.
The Role of Technology and Regulator Synergy
Banking analyst and President Director of PT Penyelesaian Transaksi Elektronik Nasional (PTEN) Arianto Mudiotomo says Indonesia’s banks are steadily strengthening prevention strategies through advanced technology. According to him, banks have implemented machine-learning and AI–based anomaly detection systems to monitor suspicious transaction patterns in real time.
“In an increasingly complex digital transaction ecosystem, a data-driven approach and inter-agency integration are key to preventing the misuse of banking systems by financial criminals,” he told SUAR on Thursday (Aug. 7, 2025).
He emphasized the importance of synergy among banks, the Financial Services Authority (OJK), and the Financial Transaction Reports and Analysis Center (PPATK) to reinforce digital policies and infrastructure. Arianto urged the adoption of security technologies such as biometric authentication, end-to-end encryption, and automated suspicious-transaction reporting systems.
Banks, he added, must boost digital literacy and personal data protection for customers. Meanwhile, OJK should strengthen risk-based regulation and technology-based supervision (Suptech), and PPATK should optimize big data analytics to detect organized crime networks operating across digital platforms.
Heavy Losses from Online Scams
The Financial Services Authority’s (OJK) Deputy Commissioner for Market Conduct Supervision and Consumer Protection (PEPK), Rizal Ramadhani, said the Illegal Financial Activities Eradication Task Force (Satgas Pasti) continues to track public losses. As of June 2025, losses from online fraud reached Rp 4.1 trillion, with Rp 348.3 billion of victims’ funds successfully blocked.
Rizal noted that financial crime schemes are increasingly varied—not only via phone calls or SMS, but also across digital platforms such as WhatsApp and Twitter. Perpetrators even impersonate prominent figures to gain victims’ trust. “These scams have caused major losses in society,” he said at the Katadata Policy Dialogue: National Strategy to Combat Financial Crime in Jakarta, Tuesday (Aug. 5).
He explained that criminals may use banks as a means to commit fraud or target them directly—such as through system breaches that drain customer funds. “As task force chair, we always work in synergy with ministries, associations, and relevant institutions—because the ‘accursed adversary’ also collaborates,” Rizal said.
With ongoing coordination and constantly updated strategies, the banking sector and related institutions are expected to create a safer digital ecosystem for the public.
