Risk Governance Effectiveness In Indonesia’s Anti-Scam Enforcement: An Empirical Assessment For 2025

This study evaluates the effectiveness of Indonesia’s Financial Services Authority (OJK) in responding to the rising prevalence of financial scams during the first quarter of 2025, with particular emphasis on risk governance and systemic resilience. The regression results (Y = 4194.91 + 14.88X; R² = 0.954; p = 0.023) indicate a strong and statistically significant relationship between the value of reported financial losses and the number of blocked accounts, reflecting OJK’s active and measurable enforcement actions. However, further analysis uncovers a critical paradox: although the absolute number of blocked funds increased, the Fund Blocking Success Rate declined markedly from 5.57% to 2.70%, signalling limited mitigation effectiveness. A subsequent regression examining the relationship between the number of blocked accounts and the fund-blocking success rate revealed weak significance (R² = 0.555; p = 0.255), suggesting structural and systemic disconnections within existing enforcement mechanisms. The novelty of this study lies in demonstrating that real-time enforcement capacity continues to lag behind the rapid escalation of digital scams. This gap is driven primarily by non-interoperable digital infrastructures, insufficient predictive analytical tools, and fragmented institutional coordination. The findings underscore urgent implications: achieving effective risk governance requires the integration of predictive analytics, early-warning systems, and fully interoperable institutional frameworks. By providing original empirical evidence, this research contributes to the regulatory literature and calls for a strategic redesign of Indonesia’s digital financial crime prevention architecture.