Indonesia's Scam Crisis: 1 in 4 Consumers Fall Victim to Real-Time Payment Fraud

In the digital age, where convenience is king, Indonesia's real-time payment (RTP) systems have become a double-edged sword. While they offer unparalleled speed and ease, they have also become a playground for scammers, leaving a quarter of Indonesian consumers reeling from financial losses. A recent FICO survey paints a grim picture: 23% of consumers reported losing money to RTP scams in 2024, a stark increase from 19% in 2023. The financial and emotional toll is staggering, with high-value scam losses exceeding Rp 70 million (USD$4,300) jumping from 1% to 8% year-over-year.



The survey reveals a chilling trend: 66% of Indonesians have encountered scammer messages, and 57% know friends or family who have been scammed. Despite 93% of Indonesians trusting RTP security, the threat landscape is expanding. The survey highlights the urgent need for proactive fraud detection and customer engagement, especially as RTP continues to gain traction in the country.

The rise in RTP scams is not just a financial issue; it's a trust issue. Consumers are increasingly wary of digital payment systems, and financial institutions are under pressure to safeguard their customers' hard-earned money. The FICO survey underscores the need for advanced scam detection tools, such as AI-powered analytics, contextual decisioning, and real-time customer engagement. These tools enable targeted warnings and automated actions, such as step-up authentication and transaction suspensions, to enhance scam prevention and protect customers effectively.



The survey also highlights the importance of consumer education and clear communication of risks. Banks are in a prime position to lead the fight against scams by educating consumers and deploying advanced scam detection tools. As Dattu Kompella, managing director in Asia for FICO, stated, "These tools enable targeted warnings and automated actions, such as step-up authentication and transaction suspensions, to enhance scam prevention and protect customers effectively."

The FICO survey serves as a wake-up call for financial institutions in Indonesia. The rise in RTP scams is a systemic risk that requires a systemic response. Banks must invest in advanced fraud detection tools and educate their customers on the risks of digital payment systems. Only then can they safeguard trust in the RTP ecosystem and continue to drive the adoption of digital payment systems.

In conclusion, the FICO survey is a stark reminder of the challenges facing Indonesia's financial sector. The rise in RTP scams is a symptom of a larger problem: the need for proactive fraud detection and customer engagement. Financial institutions must rise to the challenge and invest in advanced scam detection tools to protect their customers and safeguard trust in the RTP ecosystem. The future of digital payments in Indonesia depends on it.