A recent survey by FICO reveals an alarming rise in scams within Indonesia’s real-time payments (RTP) ecosystem. The 2024 Scams Impact Survey: Indonesia found that 23% of consumers reported financial losses due to RTP scams, an increase from 19% in 2023. Many victims were tricked into paying for goods, services, or investments that never materialised.
Even more concerning is the rise in high-value scam losses—8% of victims reported losing more than Rp 70 million (USD$4,300) in 2024, highlighting the growing financial toll on Indonesian households.
“Scam losses are on the rise in Indonesia, with 23% of consumers reporting they lost money in 2024—up from 19% in 2023,” said Dattu Kompella, managing director in Asia for FICO. “Even more concerning is the sharp increase in high-value scam losses exceeding Rp 70 million (USD$4,300), which grew to 8% in 2024. These figures underscore the growing financial and emotional toll scams are taking on Indonesian households.”
Trust remains high despite rising threats
Despite the surge in scams, Indonesians continue to trust RTP security remarkably. As many as 93% of consumers believe RTP processes are secure—far exceeding the global average of 73%. However, the survey points to a growing disconnect between confidence in the system and the increasing sophistication of scams.
Scammers targeting more than ever
The report highlights the significant exposure of Indonesian consumers to fraudulent activities, with 66% reporting they’ve received scam messages and 57% knowing someone—whether a friend or family member—who has been scammed. Despite these risks, using Real-Time Payments (RTP) in Indonesia is nearly universal, with 99% of consumers having sent and 97% having received RTP transactions.
Furthermore, 59% of Indonesians plan to increase their RTP usage in the coming year, notably higher than the global average of 44%.
The role of banks in scam prevention
As real-time payments become essential to daily life, banks face increasing pressure to enhance fraud detection measures. The survey reveals that 70% of Indonesian consumers would have a more favourable opinion of their bank if it took proactive steps to block suspected scam transactions in real-time.