Indonesian consumers want stronger protections against authorised push payment scams

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FICO Survey reveals concerning increase in high-value scam losses exceeding Rp 70 million (USD$4,300), which grew to 8% in 2024. (Graphic: FICO)

The updated release reads:

FICO SURVEY: 1 IN 4 INDONESIAN CONSUMERS REPORT LOSING MONEY TO SCAMS VIA REAL-TIME PAYMENTS

Indonesian consumers want stronger protections against authorised push payment scams

(NYSE: FICO)

Highlights

  • More than half (56%) of consumers in Indonesia identified having better fraud detection systems as the most important action banks can take to protect them from scams
  • One in four (23%) Indonesian consumers reported losing money to scams via RTP
  • The share of high-value scam losses exceeding Rp 70 million (USD$4,300) has risen to 8% in 2024

A new survey by global analytics software leader FICO highlights the rising threat of scams within Indonesia's real-time payments (RTP) ecosystem. The ‘2024 Scams Impact Survey: Indonesia' found that 23% of consumers reported losing money to scams via RTP. In many cases, this involved paying for goods, services, or investments that were never delivered.

While most Indonesians (93%) trust the security of RTP processes—significantly above the global average of 73% — the survey reveals a sharp rise in both the frequency and severity of scams in Indonesia, alongside alarming trends in financial losses.

“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.”

More information: https://www.fico.com/en/latest-thinking/ebook/2024-scams-impact-survey-indonesia

The findings emphasise the urgent need for proactive fraud detection and customer engagement, especially as RTP continues to gain traction in the country. 66% of Indonesians reported exposure to messages from scammers, and 57% said friends or family members had been scammed.

RTP continues to gain strong momentum in Indonesia, with 99% of consumers having sent and 97% having received RTP, according to the survey. Looking ahead, 59% of Indonesians expect to increase their RTP usage in the next 12 months—well above the global average of 44%.

“Real-time payments are now embedded in daily life for many Indonesians, and usage will only continue to grow,” added Kompella. “But as adoption increases, so does the risk of scams exploiting the speed and irrevocability of RTP. Banks are in a prime position to lead the fight—by educating consumers, clearly communicating risks, and deploying advanced scam detection tools to safeguard trust in the RTP ecosystem.”

The survey also highlights that Indonesian consumers strongly believe banks should play an active role in preventing scams. In fact, 70% stated they would view their bank more positively if it intervened in real time to prevent a suspected scam payment.

“A bank’s ability to combat scams hinges on advanced technologies like AI-powered analytics, contextual decisioning and real-time customer engagement,” concluded Kompella. “These tools enable targeted warnings and automated actions, such as step-up authentication and transaction suspensions, to enhance scam prevention and protect customers effectively.”

FICO’s survey was conducted in 2024 by an independent research company. It surveyed 1,001 Indonesian adults, along with approximately 11,000 other consumers across 14 countries, to explore their experiences regarding RTP usage, scams, and their banks’ scam prevention capabilities.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.

Learn more at https://www.fico.com Join the conversation at https://x.com/FICO_corp & https://www.fico.com/blogs/ For FICO news and media resources, visit https://www.fico.com/newsroom

FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.

RICE Communications for FICO fico@ricecomms.com

Saxon Shirley FICO +65 9171 0965 saxonshirley@fico.com

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