Preventing Money Laundering from Online Gambling, Government Enhances Financial Literacy Efforts
Jakarta – The government is increasingly strengthening collaborative efforts between various institutions to enhance financial literacy among the public, particularly regarding cryptocurrency, to prevent money laundering from online gambling proceeds. This initiative comes in the wake of a report revealing that Rp28.48 trillion in online gambling funds were funneled into cryptocurrencies.
The Head of the Financial Transaction Reports and Analysis Center (PPATK), Ivan Yustiavandana, stated that his office has coordinated with law enforcement agencies regarding the movement of money from online gambling into the cryptocurrency ecosystem.
“The report has been forwarded to law enforcement for further action. We’ve sent it to the authorities for processing,” said Ivan.
Meanwhile, Member of the House of Representatives’ Commission XI, Puteri Anetta Komarudin, emphasized the importance of financial literacy to prevent the public, especially the younger generation, from falling into high-risk investment schemes without adequate understanding.
“This should be a focus for the OJK (Financial Services Authority) this year. The phenomenon of ‘fear of missing out’ (FOMO) has driven many young people to invest in cryptocurrencies without fully understanding the risks, particularly due to influencer-driven pressures,” Puteri stated.
In line with this, Commission XI member Musthofa called on OJK to tighten its supervision of cryptocurrency transactions to prevent misuse.
“Young people must be given a better understanding so they are not swayed by promises of huge profits from cryptocurrencies without comprehending the potential risks,” Musthofa emphasized.
Meanwhile, the Head of the OJK’s Financial Technology Innovation and Digital and Crypto Assets Supervisory Division, Hasan Fawzi, confirmed that OJK has been working closely with PPATK to monitor and curb the abuse of cryptocurrencies in money laundering related to online gambling.
“We have reduced the use of cryptocurrencies for online gambling money laundering or other illicit activities,” Hasan said.
According to OJK data as of December 2024, total cryptocurrency transactions in Indonesia reached Rp650 trillion, with an average daily transaction value of Rp2 trillion. Tight surveillance and enhanced public education are key to preventing the misuse of digital assets for illegal activities.
Collaboration across all sectors of society is a strategic step toward strengthening the financial surveillance system and financial literacy, helping to curb the flow of money laundering through online gambling.
