New Game Rules for Financial Services Institution in Indonesia: Mandatory Implementation of Anti-Fraud Strategy

The financial services industry in Indonesia faces heightened operational risks due to the increasing sophistication of fraud. To mitigate this, the Financial Services Authority (OJK) introduced POJK 12/2024, a groundbreaking regulation that mandates the implementation of a comprehensive anti-fraud strategy for all financial institutions. This regulation covers a wide range of institutions, setting out clear guidelines for fraud prevention, detection, and enforcement.

Authored by the expert lawyers at Dentons HPRP, Timothy Joseph Inkiriwang (Partner), Dinne Gatari Chairandi (Senior Associate), and Verina Marcillia (Associate), this article provides an essential overview of POJK 12/2024, breaking down its key components and compliance timelines. Whether you're part of a large commercial bank or a smaller financial services institution, this article offers valuable insights into how to stay ahead of regulatory requirements and protect your business from fraud.

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