Otoritas Jasa Keuangan (OJK) is strengthening cooperation between Indonesia and Australia to improve the handling of financial scams in the financial services sector during the Australia-Indonesia Anti-Scam Workshop in Jakarta (07/05).

Head of Financial Services Business Conduct Supervision, Education, and Consumer Protection at OJK, Dicky Kartikoyono, said financial scams are moving quickly, growing on a large scale, and taking advantage of gaps between systems and jurisdictions across countries.

“Scam moves very quickly, develops on a large scale, and takes advantage of gaps between systems and jurisdictions across countries. Therefore, cross-border cooperation is no longer an option, but a necessity,” Dicky said during the workshop.

OJK Says Financial Scams Have Become a Systemic Threat

Dicky said scams and fraud have developed into a systemic risk that could reduce public trust in the financial system.

According to OJK, scams are no longer limited to isolated incidents or a single sector. The crimes now operate across sectors and countries by using digital technology developments and weaknesses between systems.

OJK reported that complaints related to scams and fraud in Indonesia’s financial services sector have increased significantly, reaching more than 530,000 cases within a relatively short period.

The regulator said the increase has become a strong signal for stakeholders to strengthen capacity, coordination, and more structured responses in handling financial scams.

Indonesia Records More Than 530,000 Financial Scam Cases

OJK and related ministries and institutions continue to strengthen coordination through the Investment Alert Task Force and the Indonesia Anti-Scam Centre (IASC).

The agency said several accelerated measures have been implemented, including blocking bank accounts, blocking phone numbers, and shutting down websites suspected of being used for financial fraud activities.

“Early detection, faster action, and preventing losses before they expand have become priorities,” Dicky said.

OJK Strengthens Scam Prevention Through AI and Early Detection

OJK said its proactive approach to handling financial fraud transactions is based on four main pillars: prevention, detection, disruption, and enforcement.

Under the prevention pillar, OJK focuses on improving public education and awareness while strengthening the capacity of frontline officers through technology utilization.

For detection efforts, OJK encourages the use of data, artificial intelligence (AI), and early warning systems.

In the disruption stage, OJK and related stakeholders aim to act quickly in blocking accounts and stopping fund flows linked to fraud activities.

For enforcement, OJK is strengthening cooperation with law enforcement agencies to ensure accountability and deterrent effects for perpetrators.

Indonesia and Australia Expand Cooperation Through Anti-Scam Workshop

The three-day workshop featured speakers from several institutions, including the Australian Treasury, Australian Competition and Consumer Commission, Australian Securities and Investments Commission, Optus, Australian Federal Police, Bank Indonesia, Kementerian Komunikasi dan Digital RI, Indosat, and BCA.

The hybrid event was attended by around 100 offline participants from ministries, institutions, financial services industries, and telecommunications companies. Another 100 online participants joined from regional task force members and regional OJK offices.

OJK said the exchange of knowledge, experiences, approaches, roles, and fraud handling case studies during the workshop is expected to strengthen cooperation between Indonesia and Australia in handling financial fraud.

The workshop is also expected to strengthen collaboration between OJK and the Australian Government through Prospera, especially in consumer protection efforts.

PHOTO: OJK

This article was created with AI assistance.

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