Fraud Losses Far Exceed Recovered Funds, OJK Reveals Causes

The Chairperson of the Board of Commissioners of the Financial Services Authority (OJK), Frederica Widyasari Dewi, also known as Kiki, reported that from November 2024 to June 2025, the Indonesia Anti-Scam Centre (IASC) successfully secured up to Rp674.1 billion in funds belonging to fraud or scam victims. This figure resulted from the IASC’s handling of 608,168 scam reports during that period, leading to the blocking of 557,751 accounts linked to fraudulent activities. “Of the total Rp674.1 billion secured, Rp196.93 billion has been returned to victims. Meanwhile, the remaining approximately Rp477.17 billion is still in process,” Kiki stated at a Seminar on Scams in Central Jakarta on Monday, 6 July 2026.

Nevertheless, Rizal Ramadhani, Head of the Task Force for the Eradication of Illegal Financial Activities (PASTI), noted that the amount of funds secured by the IASC remains far below the total losses suffered by scam victims. He revealed that the total funds lost during the period from November 2024 to May 2026 reached Rp9.3 trillion. Consequently, the percentage of funds successfully saved amounts to only about 7.24 per cent of the total losses. He explained that the disparity between lost and recovered funds is generally due to victims often being late in reporting the fraud to the IASC or the OJK’s PASTI Task Force.

Rizal acknowledged that the speed of reporting a scam heavily determines the authorities’ ability to handle the case. Delays hinder efforts to block accounts, meaning the fraudulent funds are often already gone. This factor, he argued, is why the success rate of saving and returning funds is far smaller compared to the losses incurred. “The losses are Rp9.3 trillion, and the amount returned is Rp674 billion, so that’s only a small percentage saved,” Rizal said. “Because the speed of reporting determines the speed of action from the scam centre. That is why we are now building a system so that victims can report more quickly.”