Two South Korean Nationals Become Masterminds of Black Dollar Fraud Worth IDR 1.6 Billion

The West Jakarta Metro Police held a case of Black Dollar fraud / Photo: IST

JAKARTA - The West Jakarta Metro Police has arrested two suspects, South Korean citizens (WN), for committing investment or black dollar fraud.

The modus operandi carried out by the perpetrator is to offer investment in black dollars, which are dollars that can be converted into the original using special liquids.

In the action, the perpetrators convinced the victim by showing an example of money that was laundered to look like real dollars and even gave some of the real money to be exchanged. The victim suffered a loss of IDR 1.6 billion.

The two suspects who were arrested had initials IDK alias JK and SDT alias JP. Meanwhile, PL alias P is still at large. They have been active since 2025 in Meruya Ilir, Kembangan, West Jakarta.

Head of Criminal Investigation Unit of West Jakarta Metro Police, Kompol Raden Dwi Kennardi, said that the modus operandi of the perpetrators was to provide bait money from the proceeds of the laundering to convince the victim.

However, after the victim handed over some money in several stages, the real facts were revealed. The promised money never existed and was only a pile of black paper.

"For the whole it turns out that there is no money, only black paper," said Kompol Raden when confirmed, Tuesday, March 31, 2026.

Meanwhile, the modus operandi carried out by the perpetrator to the victim is to ask for money for various reasons, ranging from the cost of redeeming the suitcase at the airport to the purchase of additional cleaning fluids.

The total loss of the victim also reached around IDR 1.6 billion.

From the results of the investigation, the police also found that the liquid used by the perpetrator was not a special material, but only a mixture of water and ordinary detergent.

Kompol Raden said that the perpetrators, who were foreigners, were also looking for fellow foreigners who were considered to have financial ability.

The perpetrators first established communication to find out the background of the victim before launching their action.

In addition to arresting the two suspects, the police also seized evidence of a suitcase containing black paper, cleaning fluid, and a recording of the money handover.

"The suspects are charged under Article 492 of the Criminal Code regarding fraud with a maximum penalty of four years in prison," he said.

The police are also still looking for one perpetrator who is on the wanted list and are investigating the possibility of other victims.

The police appealed to the public to be more vigilant against various forms of investment offers, especially from parties that are newly known and promise big profits in a short time.

Meanwhile, the Public Relations Officer of the West Jakarta Metro Police, AKP Wisnu Wirawan explained that the arrest of the perpetrators was based on a police report Number LP/B/683/III/2026/SPKT/West Jakarta Metro Police dated March 8, 2026.

"The victim has the initials LBO or Lee Byung-ok. The victim is a citizen of Korea," he added.