OJK Chief Reveals Money Lost Due to Scam and Fraud Reaches IDR 2.5 Trillion

Jakarta, – The Financial Services Authority (OJK) recorded that the amount of losses suffered by the public due to financial crimes, particularly scams and fraud, reached trillions of rupiah.
The Executive Head of the Financial Services Authority’s Business Conduct Supervisory, Education, and Consumer Protection, OJK, Frederica Widyasari Dewi, stated that from 2022 to the first quarter of 2024, the total losses suffered by consumers amounted to IDR 2.5 trillion.

The amount of loss comes from data of 10 banks whose customers are most frequently affected by scams and fraud. This means that the Rp 2.5 trillion in funds disappeared due to financial crimes.

“This is lost money, because they might have inadvertently, unknowingly given their OTP password,” she said at Djakarta Theater, Wednesday (12/11).

The woman affectionately known as Kiki explained that the lost funds amounting to Rp 2.5 trillion came from 155 thousand customers or complaints submitted to the OJK. “I think the complaints are definitely more numerous, because many people who fall victim to scams and fraud do not report it,” she added.

Kiki revealed that scam and fraud crimes can be experienced by anyone without exception, including herself. “Because at that time I was offered a charity by a friend who turned out to have also been hacked,” she said.

Kiki added that the phenomenon of high consumer complaints has caught the attention of financial services authorities because its impact is very detrimental not only to consumers but also to the economy.

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