Indonesian Citizens' Future Funds Lost Rp9.5 Trillion, OJK Chief Reveals Causes

Yogyakarta, CNBC Indonesia — The Chair of the Board of Commissioners of the Financial Services Authority (OJK), Friderica Widyasari Dewi, has disclosed that the public losses from various scams or financial fraud reached Rp9.5 trillion in the last year. She stated this at Jogja Financial Festival (Finfest) 2026 in Yogyakarta on Friday (22 May 2026). She noted that the surge in digital scams poses a serious threat amid the growing use of technology and digital financial services by the public, particularly among young people. ‘What has been reported as lost is Rp9.5 trillion. That is people’s money, money that should be saved for our future,’ she said. She explained that scam methods are becoming increasingly diverse, ranging from impersonation, investment fraud, to love scams that exploit victims’ emotions. ‘There is impersonation, investment fraud, be careful. Love scams are also increasing,’ she said. Friderica said the President has announced plans to form the National Financial Well-being Committee, focusing on improving public education to avoid financial scams. ‘The President has said he will create the National Committee for Financial Well-being, focusing on how to educate the public so they do not fall for scams and lose their money,’ she added. She reminded the younger generation to start learning financial management early, regardless of their future profession. ‘Whatever your aspiration, you must understand finance. There may be engineers or doctors, but life can be chaotic if you cannot manage money,’ she said. In addition, Friderica urged the public to use technology more wisely in the face of a flood of information and convenient digital transactions. ‘Now you are bombarded by technology. If you do not know what you are using, you end up pressing buttons and your money disappears. That is very dangerous,’ she warned. During the event, she also encouraged young people to develop a habit of investing from an early age and to understand the importance of asset diversification. ‘Never put your eggs in one basket. Therefore investments should be diversified, such as gold, property, stocks, mutual funds, and others,’ she said. She emphasised that learning to manage money from a young age is a vital preparation for achieving financial freedom in the future. ‘Young people who learn to manage money today are preparing for their future financial freedom,’ she concluded.