Indonesia’s Financial Services Authority (OJK) is bringing in a new era of anti-fraud governance with Regulation No. 12/2024. It mandates that all Financial Services Institutions (LJKs), including banks, insurers, and fintechs, implement a comprehensive, four-pillar anti-fraud strategy. This regulation supersedes earlier fragmented rules, holds boards and commissioners directly accountable, and expands requirements across the broader financial landscape.
The four foundational pillars that OJK sets out are prevention; detection; investigation, reporting, and sanctions; and monitoring, evaluation, and follow-up. These anti-fraud pillars demand holistic integration across all channels and product lines. Banks must unify monitoring systems, deploy forward-looking behavioral analytics, conduct scenario-based simulations for emerging threats such as fraud rings, and provide audit-ready documentation at all times. Institutions relying on legacy rule-based systems, disconnected fraud tools, or manual reporting workflows face a critical choice: modernize rapidly or risk operational disruption, regulatory penalties, and erosion of customer trust.
Timeline: POJK 12/2024 was issued on July 31, 2024, and took effect on October 31, 2024. Banks must now have anti-fraud strategies fully operational, with the next semi-annual reporting deadline of January 31, 2026, rapidly approaching.
Clari5 has been transforming fraud prevention over the last two decades, iterating continuously to address challenges typically faced by large FIs and to provide an enterprise-wide solution equipped for the new-age fraud landscape. Just as the brain processes threats instantly, Clari5 can help process fraud intelligence across channels in milliseconds.
Holistic integration
Institutions must unify real-time monitoring, AI-driven analytics, and scenario management across all channels. No more silos.
Board-driven compliance
Boards are explicitly accountable for embedding anti-fraud strategies, with sharp personal penalties for lapses.
Stricter controls
From enhanced identity verification and fraud scenario simulations to real-time behavioral monitoring and fraud ring detection, compliance is both proactive and preventive.
Ecosystem-wide effect
The rules extend beyond banks, affecting conglomerate subsidiaries and non-regulated entities under their control.
OJK 12/2024 requires a unified, intelligence-led fraud strategy. Clari5, a Perfios company, delivers this through
Unlike generic fraud alerts that frustrate customers by halting legitimate transactions, Clari5’s AI learns each customer’s transaction behavior. This reduces false positives and enables smooth, secure transactions. A win-win for the bank and its customers!
| Component | Clari5 Capability |
|---|---|
|
Unified, Real-Time Protection |
Clari5 eliminates data silos by monitoring accounts, cards, payments, digital wallets, and lending from a single platform. This holistic approach directly addresses OJK’s cross-channel oversight requirements and delivers operational efficiency that fragmented point solutions cannot match. |
