OJK Exposes How AI Can Drain Bank Accounts
The Financial Services Authority (OJK) has urged the public to be increasingly vigilant against the rise of fraud utilising artificial intelligence (AI) technology. The ease of digital technology is seen to open up opportunities for cybercrime that can drain bank accounts if not balanced with adequate knowledge and caution.
Dicky Kartikoyono, Chief Executive of the Behavioural Supervision of Financial Services Business Actors, Education, and Consumer Protection (PEPK) at OJK, revealed that based on data from the Indonesia Anti-Scam Centre (IASC), from 22 November 2024 to the end of June 2026, there were 1,379 reports of fraud indicated to have used AI technology.
“That is quite a lot, various financial frauds using AI,” Dicky said in a virtual press conference on Tuesday (4/8/2026).
According to Dicky, AI is not the main cause of fraud, but a tool that makes the modus operandi more convincing, faster to execute, and increasingly difficult for victims to recognise.
“This shows that the misuse of AI in financial fraud is increasingly sophisticated and real. Therefore, we all need to be vigilant,” he said.
He explained that perpetrators can engineer various forms of digital identity, from video, photos, and voice to telephone numbers, account numbers, and documents, so they resemble the originals.
“The voice can resemble someone we know, the video can also resemble someone we trust, even the identity of a particular institution can be engineered,” he stated.
Dicky disclosed that the most frequently reported modus operandi is investment fraud using deepfake technology featuring the faces of certain public figures. In addition, there are frauds involving AI-based robot trading, online shopping scams under the guise of AI technology, and fake phone calls (voice cloning) that mimic the voice or face of the victim or other parties.
“The objective is almost always the same, which is to build the victim’s trust so they feel the situation is truly real, then push the victim to immediately transfer funds or conduct financial transactions,” he explained.
To anticipate the rampant fraud, OJK urges the public to adhere to the 2L principle: Legal and Logical, and to always check and verify before making transactions.
OJK is also developing an Anti-Scam Apps, an application that will later help the public verify various indications of AI-based fraud.
“In due course, we will introduce it to the public so they can conduct checks and not be easily deceived by various forms of AI technology misuse,” he said.
Furthermore, Dicky reminded the public not to easily trust account names, telephone numbers, photos, voices, or videos received, as all of these can be engineered using AI. He advised the public to verify through other channels or contact the relevant institution directly.
“Please cross-check, ask directly the relevant institution or financial services business actor. You can also contact the OJK Contact Centre at 157 to confirm the truth,” he said.
Dicky also reminded the public never to give their PIN, password, OTP code, or personal data to anyone, including people they know.
If someone has already become a victim or suspects a fraudulent transaction, the public is asked to immediately contact the bank or payment service provider so the transaction can be suspended or the funds blocked before they are transferred.
“The faster we confirm, the greater the chance to suspend the transaction or block the funds,” he said.
He also requested victims immediately report the case to the Indonesia Anti-Scam Centre (IASC) by attaching evidence of the transaction and communication, as well as filing a report with law enforcement.
“The speed of reporting will greatly assist the process of suspending transactions or blocking funds,” he concluded.