Management of Antifraud in the Era of Banking Digitization

Abstract

This phenomena undoubtedly confers advantages onto financial services companies in Indonesia, notably by augmenting the degree of financial inclusion. Phenomenology is a research methodology that places significant emphasis on the act of observing. Within the realm of science, there exists a fundamental essence that underlies the concept of existence, a genuine reality that lies underneath surface appearances, and a profound knowledge of intentionality known as noema that is concealed behind observable occurrences. The result of the research showed that the approaches used by several banks have successfully satisfied the four primary components of the anti-fraud strategy as specified in Bank Indonesia Circular Letter No. 13/28/DPNP, according to the conclusions of this research. Nevertheless, the rapid integration of digital technology also has the risk of becoming harmful, due to the growing and varied dangers of financial crime. According to the 2020 Report to the Nations research conducted by the Association of Certified Fraud Examiners (ACFE), Indonesia has the highest number of financial fraud cases among the 16 Asia Pacific nations included in the study. Indonesia had 36 financial fraud instances in a year, surpassing China's 33 cases and Australia's 29 cases. The bank utilizes the dissemination of anti-fraud strategy materials, the endorsement of the anti-fraud declaration, and the establishment of the whistleblowing system to execute the four fundamental principles of the anti-fraud strategy. Financial institutions must have a fraud detection system capable of analyzing and identifying many forms of fraudulent activities.