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Experts Push for Freeze on Unregistered E-Wallets Accounts Amid Online Gambling Surge

05 Dec, 2024
Experts Push for Freeze on Unregistered E-Wallets Accounts Amid Online Gambling Surge

Bank Indonesia (BI) has proposed halting transactions from unregistered e-wallet accounts like GoPay, Dana, and OVO to combat the rising use of these platforms for online gambling. This move aims to address the growing misuse of digital payment systems in illegal activities.

Izzudin Al Farras, an economist from INDEF, called the proposal “urgent.” He stated that Indonesia is facing an online gambling crisis where unregistered accounts are being exploited. "Every E-wallet account must be registered, and this should be a permanent policy to ensure proper monitoring," he emphasized.

The central bank is also pushing for enhanced fraud detection tools. Uniek Yuniar, head of licensing at Bank Indonesia, said the bank has instructed e-wallet providers to strengthen their systems. These tools will flag small but frequent transactions, often linked to gambling activities.

Bank Indonesia’s efforts focus not only on registration but also on tracking transactions made at unusual hours, a common pattern in online gambling. Yuniar added that "transactions from unregistered accounts need to be addressed promptly to prevent misuse."

Muhammad Ishak, a researcher at CORE Indonesia, also supports BI’s initiative. He stated that BI’s role should extend beyond financial inclusion to ensuring e-wallet providers comply with regulations. He stressed that stricter enforcement will curb illegal financial activities tied to online gambling.

Experts agree that halting transactions from unregistered accounts will disrupt gambling activities. Farras pointed out that this approach, if implemented, would be crucial in reducing the flow of money into illegal gambling networks.

While some might fear business disruption, experts believe that these measures are necessary. The consensus is that stronger regulatory oversight will safeguard Indonesia’s digital payment ecosystem. The growing concern over online gambling means that regulatory action is needed more than ever.

Bank Indonesia’s move is a proactive step toward ensuring safer digital financial transactions. By enforcing stricter controls, BI aims to improve the integrity of Indonesia’s e-wallet platforms and reduce online gambling, an issue that has reached critical levels in the country.



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