Bank DBS Indonesia and customers join forces to fight financial crime and protect data
Indonesia, 07 Jun 2024 - International Monetary Fund (IMF) 2020 data estimates that globally, the average annual losses to the financial services sector from cyber-attacks reach around USD100 billion or more than Rp1,433 trillion. Furthermore, the United Nations (UN) in the same year estimated that IDR29,000 trillion is laundered each year.
Social engineering is one of the most common methods of manipulation used by hackers to trick a victim into giving them their passwords or bank information, even secretly installing malicious software on the victim’s computer system to gain control of the device. Once hackers gain access to the system, they can steal the victim's identity and drain his/her savings account.
Well aware of the problem, Bank DBS Indonesia held the Financial Crime Seminar 2024 with the theme “Navigating Financial Crime Risk in the Banking Sector”. The event was attended by President Director at PT Bank DBS Indonesia
Lim Chu Chong
, Director of Compliance at PT Bank DBS Indonesia
Imelda Widjaja
, Deputy Director at the Financial Services Authority (OJK)
R. Rinto Teguh Santoso
, Deputy for Compliance Reporting and Supervision of the Indonesian Financial Transaction Reports and Analysis Center (PPATK)
Fithriadi Muslim
, Chief Advisor to the Head of the PPATK
Judith L. R. Panggabean
, and Executive Director at Deloitte Forensic Services
Doddy Ashraf Zulma
to share their views on how to tackle financial crime in the banking sector. The programme was also in line with the National Movement for Anti-Money Laundering and Counter-Terrorism Financing organised by Bank Indonesia that has been running for 22 years.
During the event, Chief Advisor to the Head of the PPATK
Judith L. R. Panggabean
revealed that 45 percent of the Proactive Suspicious Financial Transaction Reports (LTKM) filed during the period February 2021-March 2024 were related to fraud cases and 5 percent were related to banking transactions. These reports were based on red flags—indicators of unusual transactions or activities—detected during the identification, verification, and monitoring of transactions. The red flags were then analysed and submitted to the PPATK as LTKM.
Banks play a crucial role in the fight against financial crime at the forefront. One of the strategies applied by banks is to manage relationships with prospective and current clients by implementing PMPJ, including termination of relationships if the banks detect fake identities, rejection at the KYC stage, updates on profiles, and transaction monitoring and reporting.
In addition to the KYC procedures, banks also need to educate the public and their customers. To that end, Bank DBS Indonesia launched the
Behind The Scam,
a Korean-style IG series. Each episode of the series tells the story of unique figures who uncover various fraud techniques. Through this educational content, Bank DBS Indonesia seeks to expose the complex strategies applied by fraudsters and present them in a simple and easily understandable manner.
President Director at PT Bank DBS Indonesia
Lim Chu Chong
said, “As a purpose-driven bank, Bank DBS Indonesia is committed to maintaining our customers' trust, including the security of their transactions. Therefore, we have implemented various technologies to ensure a safe digital banking environment, including presenting
Behind The Scam
to raise public awareness of various forms of financial crime around us. Through these efforts, it is hoped that customers can enjoy safe, convenient, and enjoyable banking services, in accordance with our 'Live more, Bank less' principle."
For more information about the
Behind The Scam
series, visit:
Episode 1 ‘Behind The Scam’
Get to know the characters of ‘Behind The Scam’
@
dbsbankid
Instagram account
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named
“World’s Best Bank”
by Global Finance,
“World’s Best Bank”
by Euromoney and
“Global Bank of the Year”
by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named
“World’s Best Digital Bank
” by Euromoney and the world’s “
Most Innovative in Digital Banking”
by The Banker. In addition, DBS has been accorded the
“Safest Bank in Asia
“ award by Global Finance for 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as
World’s Best Bank in Indonesia
for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia
is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit
www.dbs.com
.
DBS Bank Ltd | 12 Marina Boulevard, DBS Asia Central @ Marina Bay Financial Centre Tower 3,
Singapore 018982 | Co. Reg. No. 196800306E
Tel: 65.6878 8888 | www.dbs.com
