OJK Blocks Nearly 20,000 Fraudulent Accounts, Strengthens Protection

TheIndonesia.id - The Financial Services Authority (OJK) has successfully blocked 19,980 fraud-related accounts as of February 9, out of 70,390 reported to the Indonesia Anti-Scam Center (IASC).

"The number of fraud-related accounts reported stands at 70,390, and 19,980 accounts, or 28 percent, have been blocked," said Friderica Widyasari Dewi, Chief Executive of Financial Services Business Conduct Supervision, Education, and Consumer Protection at OJK, in Jakarta on Friday.

According to Antara News Agency, the OJK disclosed that victims of these scams reported a total of Rp700.2 billion in financial losses, with Rp106.8 billion of victims’ funds successfully blocked.

Since the IASC began operating on November 22, 2024, until February 9, 2025, it has received 42,257 fraud reports. The IASC was established by OJK and the Illegal Financial Activity Eradication Task Force (Satgas PASTI), with the backing of financial services industry associations, to address financial fraud swiftly and deter wrongdoers.

The center’s goal is to improve coordination among financial service providers by delaying transactions and blocking fraudulent accounts promptly. This allows authorities to identify the individuals involved, recover any remaining funds for victims, and pursue legal actions.

"The IASC is currently supported by banking associations, payment system providers, and e-commerce platforms. It will continue enhancing its capacity to expedite fraud case handling," Dewi added.

In its consumer protection efforts, the OJK addressed 16,610 complaints related to illegal entities through Satgas PASTI from January 1, 2024, to January 31, 2025. Of these, 15,477 complaints were related to illegal online lending, and 1,133 complaints were about illegal investment schemes.

In the same period, authorities shut down at least 3,517 illegal online lending platforms and 519 illegal investment entities, and revoked the operations of the same number of platforms and entities.