The Financial Services Authority (OJK) has blocked approximately 4,000 online gambling accounts in the past three months, as part of its ongoing efforts to safeguard the public from the economic and social harms of online gambling.
In an effort to protect the community from the detrimental effects of online gambling, the OJK has blocked thousands of related bank accounts, showcasing the regulator’s commitment to public welfare and financial safety.
Dian Ediana Rae, Chief Executive of Banking Supervision at OJK, announced the blocking of over 4,000 gambling-related accounts, stressing this action as a crucial step in curbing online gambling transactions through the banking system.
The account blocking process involves coordination with relevant ministries, including the Ministry of Communication and Information Technology and the banking sector, to identify and restrict accounts suspected of being linked to online gambling activities.
Beyond account blocking, OJK’s strategies include special training for banks on online gambling, public education about the dangers of online gambling, and partnerships with related parties to eradicate these activities.
The Indonesian banking sector has demonstrated strong support for OJK’s anti-gambling efforts, including account blocking and transaction monitoring to ensure compliance with customer profiles.
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Banks are encouraged to conduct rigorous customer due diligence (CDD) and enhanced due diligence (EDD) procedures to identify whether customers are involved in online gambling or other illegal activities through banking channels.
OJK’s concerted efforts in coordination with the banking industry and other stakeholders are vital in effectively combating online gambling in Indonesia, thereby safeguarding the economic and social interests of its citizens.
In a significant clampdown on online gambling, the OJK has blocked around 4,000 related accounts in the last three months, aligning with its mission to protect the public from the adverse effects of such activities. This move, part of a broader strategy involving coordination with the banking industry and other ministries, demonstrates OJK’s commitment to maintaining financial safety and public welfare.
Source: Metro Batam, Berita Satu (2023)
