The Financial Services Authority (OJK) highlighted the rampant phenomenon of financial fraud cases in Indonesia, which continue to experience a significant surge. According to data from the Indonesia Anti Scam Centre (IASC) up to June 2026, as many as 608 thousand reports of suspected fraud have been received since the institution officially began operations in November 2024.
The Chairwoman of the OJK Commissioner Board, Friderica Widyasari Dewi, emphasized that the figure is only the "tip of the iceberg" of the actual reality. She believes the number of victims is far greater than the collected data, given that many people are still reluctant to report their cases. The main factor for this reluctance is embarrassment, even for those working in the financial services industry itself.
In mitigation efforts, the OJK, together with financial services industry players, has taken firm steps by blocking more than 557 thousand accounts indicated to be involved in illegal activities. This step successfully secured public funds worth IDR 674 billion, of which around IDR 200 billion has been successfully returned to the affected victims.
Friderica emphasized that the speed of blocking accounts is a crucial element in breaking the flow of money laundering from crime. Without a rapid response, these funds are at high risk of being split up, transferred to various other accounts, or even smuggled abroad, which would complicate the future recovery process.
Seeing the increasingly sophisticated modus operandi of fraud alongside technological advancements, OJK continues to strengthen synergy with law enforcement agencies, international institutions, and the banking sector. However, OJK still prioritizes the prevention aspect as the most effective strategy, considering that recovering funds that have changed hands through cross-border schemes is a highly formidable challenge.
