OJK Says More Than Rp 120 Trillion of Public Funds Lost to Financial Crimes
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JAKARTA, Investortrust.id — Indonesia’s Financial Services Authority, or OJK, says more than Rp 120 trillion, equal to about $7.3 billion, of public funds have been lost to illegal financial activities including scams, illegal online lending, and fraudulent investments.
Friderica Widyasari Dewi, the chief executive for consumer protection, financial literacy, and market conduct supervision at OJK, said on Tuesday, Aug 19, 2025, that the massive loss represented resources that should have flowed into productive sectors to strengthen the domestic financial market and support economic growth. Instead, she noted, the funds vanished through predatory schemes.
“If the money does not go into productive sectors but instead disappears because it falls victim to various illegal financial activities, the figure has already exceeded Rp 120 trillion,” Friderica, widely known as Kiki, said during the National Campaign Against Scams and Illegal Financial Activities in Jakarta.
She stressed that the diverted funds amounted to a significant loss for the national economy. Had they entered the formal financial system, they could have supported financial inclusion, increased investment, and expanded public access to banking and other financial services.
“This is very saddening, so I invite everyone here to work together to protect our financial services sector, to safeguard the public, to deepen our markets, and to continue contributing to economic growth,” she said.
Stronger Law Enforcement
To curb the growing threat of financial crimes, OJK has introduced the Financial Sector Development and Strengthening Law, known as P2SK, which closes long-standing legal loopholes that failed to address risks arising from digitalization. These include crimes through illegal lending platforms, fraudulent investment schemes, and sophisticated digital scams.
Under the P2SK Law, OJK and other government institutions now have greater enforcement powers. Perpetrators can face prison sentences of five to ten years and fines ranging from Rp 1 billion to Rp 1 trillion.
Still, the regulator emphasized that legal measures alone would not be sufficient. Public awareness and financial literacy remain the first line of defense to prevent widespread losses in the future.
“Strengthening legal frameworks is important, but the key lies in vigilance and public education,” Friderica said, urging people to be cautious before committing their money to financial products and services.
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