Indonesian Banking Sector Alerts Customers to Holiday Season Fraud Risks

Rising Transaction Volumes and Fraud Attempts

As Indonesia prepares for the 2025/2026 holiday season, financial institutions are warning customers about a significant increase in financial fraud attempts. The Consumer Lending Business Head of Bank Danamon, Enriko Sutarto, emphasized that fraudsters do not take holidays and continue their activities during peak travel seasons ¹

Increased Transaction Activity

Data from the Central Statistics Agency (BPS) shows that domestic travel reached 101.08 million trips in December 2024, representing an 11.63% year-on-year increase compared to December 2023 ¹

Banking Transaction Surge

The increase in travel has led to a corresponding surge in financial transactions. Bank Indonesia reported that new credit disbursements rose significantly in Q4 2024. Specifically, credit card transactions saw a 75% increase in Q4 2024, up from 68.0% in Q3 2024. Unsecured lending also grew by 67.6% in Q4 2024, compared to 64.9% in the previous quarter ¹

Common Fraud Schemes

Banks have identified several prevalent fraud schemes that customers should be aware of during the holiday season:

1. Fake travel agencies offering attractive holiday packages
2. Phishing attempts through email or phone calls
3. Card skimming at ATMs and EDC machines
4. QRIS fraud through fake payment codes
5. Social media scams using fake travel agency accounts

Protective Measures

To protect against these fraud schemes, banks are advising customers to:

1. Use official channels for travel bookings and transactions
2. Protect sensitive information such as OTP codes, CVV/CVC numbers, and PINs
3. Avoid suspicious links and unknown APK files
4. Secure their cards during travel
5. Use secure networks for banking transactions

The Financial Services Authority (OJK) has also issued warnings about new fraud schemes, including malicious .APK files disguised as Christmas greetings ²