Bank Indonesia will publish Guidelines for Anti-Fraud Strategy as a response to rampant burglary fund bank customers, particularly in the premium service. The strategy includes four phases. The first stage of preventive stage, cover the use of governance, active oversight of management, and application of the principle of know your employee, the second phase with a detection system also includes whistleblowing, fraud data, and reporting.
Third, the investigation phase. This phase includes the standard investigation, evaluation of the weaknesses of the system and the imposition of sanctions. While the fourth includes the monitoring, including evaluation of fraud risk assessments and apptite banks.
Limitation of banks and non-bank products is now very blurred. Thus, BI will coordinate with the supervisory authority of financial institutions and non bank deposit insurance institution. BI also has revealed details of the examination of 23 banks are prohibited from adding premium customers within the next year.
Because there is a decisive number of innovative products and services that do not matched by the readiness of banks to mitigate the operational risks that occur including the possibility of money laundering. BI then reveal a number of weaknesses organization of fund raising customers' premiums.
First, the weakness in top management perform periodic review and monitoring of policies, the consistency of implementation of standard operating procedures (SOPs) and internal control the bank.
Second, weaknesses in the implementation of policies, systems and procedures, as well as human resource policies, such as applying the principle in the bank.
Third, the weaknesses of information management systems that integrate not deposit products with a portfolio of customers.
Fourth, the weaknesses in internal control as there is no sudden its auditing system and weaknesses in business processes. Examples of weaknesses include relationship managers who can modify the personal data of customers and knowing the customer withdrawals by others without power of attorney.
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