OJK Disbursed Consumer Losses Due To Scam And Fraud Capai Rp2.5 Trillion

Chief Executive of the Behavior Supervisory of Financial Services Business Actors for Education and Consumer Protection OJK Friderica Widyasari Dewi. (ANTARA)

JAKARTA - The Financial Services Authority (OJK) reported that based on data from 10 banks from 2022 to the first quarter of 2024, consumer losses due to scams and fraud reached IDR 2.5 trillion.

OJK Chief Executive of Behavior Supervisory for Financial Services and Consumer Protection, Friderica Widyasari Dewi, said that digital technology provides great opportunities for many people to start a business and achieve business opportunities.

However, Friderica or familiarly called Kiki assessed that, behind these opportunities, there are significant risks because consumers have now opened access to a digital world full of risks, and if not balanced with a good understanding of potential hazards, this could lead to various problems.

"I always term that our consumers have opened portals to enter other worlds, which if we are not equitable with their ability to understand the risks and so on. That's a lot and then causes a lot of problems," he said.

Friderica said that OJK has received reports related to scams and fraud from consumers and based on data from ten banks from 2022 to the first quarter of 2024, losses suffered by consumers due to fraud reached IDR 2.5 trillion, which came from around 155,000 complaints.

"From 2022 to the first quarter of 2024, the amount of loss suffered by consumers is 2.5 trillion rupiah. This money is lost, because they may accidentally give their OTP password. That is 2.5 trillion from around 155,000 incoming complaints," he said.

According to Kiki, the victim affected by the scam and fraud when asked for the One Time Password (OTP) code from banking services so that the victim's personal data is used by fraud actors.

Kiki said the detrimental fraud not only threatened low-end people, but many victims from the background of officials and former officials.

In fact, he admitted that he had also received fraud attempts.

Kiki menyadari bahwa jumlah laporan ini kemungkinan lebih besar, mengingat banyak orang yang menjadi korban tetapi tidak melaporkannya, karena malu atau tidak sadar telah dipolek.

"Maybe if you guys in this room get scams and fraud, maybe it's too embarrassed to report it. Because I've been hit myself too. But then when I came from the bank, Mr. Rony's bank at that time called, ladies and gentlemen, what kind of report? Wow, that's right, when the OJK ADK was hit by a scam and a fraud? Because at that time I was offered a charity by a friend who turned out to be hacked too," he explained.

Kiki explained that the phenomenon of high consumer complaints, especially related to scams and fraud, as well as the rise of illegal financial entities, is also a concern. The loss caused by this illegal entity is estimated to exceed Rp150 trillion.

Kiki emphasized that if the funds entered the formal sector, of course it would move the economy, but because they flowed into the illegal sector, this would actually harm consumers and society at large.

In addition, Kiki explained that the increase in fraud cases was followed by a surge in the number of complaints from consumers and the public.

Based on data from January 1, 2020, to November 30, 2024, there were 31,018 complaints with disputes and 1,890 complaints showing indications of violations.

Kiki also mentioned a gap in the financial literacy and inclusion index. Based on the National Survey of Financial Literacy and Inclusion (SNLIK) conducted by the Central Statistics Agency (BPS) together with the OJK, the Indonesian people's financial literacy index was recorded at 65.43 percent in 2024, while the financial inclusion index reached 75.02 percent.