Amid the country’s current levels of cybersecurity, financial technology maturity and regulatory oversight, the respondents have a story to tell.

Based on a July 2024 survey of 1,001 Indonesian adults and approximately 11,000 other consumers across 14 countries, a data analytics and credit scoring firm has disclosed some findings about respondents’ experiences regarding scams, usage of real-time-payment systems, and banks’ scam prevention capabilities.

First, one in three Indonesian respondents had indicated that they blamed either the sender’s or receiver’s bank for scam-related losses, despite acknowledging that refunds may not be guaranteed.

Second, 69% of Indonesian respondents had indicated they would file a formal complaint if dissatisfied with their bank’s handling of a scam. Also, 12% indicated they would also switch banks in such cases, and 8% would even escalate the issue to regulators.

Other Indonesia findings

Third, nearly 59% cited they belief that banks should rarely or never refund scam victims. Also:

  • 27% of Indonesia respondents had indicated their belief that banks should provide refunds most or all of the time
  • 66% had indicated receiving suspicious messages in 2024, up from the figure from a similar data analysis for 2023
  • 57% had indicated that a friend or family member had fallen victim to scams — an 8% increase over what respondents in a similar 2023 survey had noted
  • 55% indicated they would take personal responsibility when tricked by scams, while 34% had indicated they would blame either the sending bank (15%) or receiving bank (19%). (Editor’s note: such summing up of percentages is assumed to ignore overlaps in the respondents’ apportioning of blame, as well as other generalizations)
  • 69% indicated they would approve allowing banks to automatically block payments linked to suspected scams, even if this act causes delays to transactions

According to Dattu Kompella, Managing Director (Asia), FICO, the firm that commissioned the survey:  “Fraud prevention is no longer just a compliance requirement — it’s a key factor in customer trust and loyalty.”