Implementing robust anti-fraud strategies is essential for financial service institutions to safeguard assets and maintain customer trust. Key measures including enhancing preventive and detective measures on fraud, establishing appropriate follow-up system for alleged fraudulent acts, evaluation, implementing reporting obligations, as well as providing adequate employee training on fraud awareness and promoting a culture of integrity. To achieve such, the Indonesia’s Financial Service Authority (OJK) has issued OJK Regulation Number 12 of 2024 on the Application of Anti-Fraud Strategies for Financial Services Institutions to improve and tighten the FSI's responsibilities in implementing the anti-fraud strategies. Find out more our insights about this topic in our Legal Brief publication.
Comments