Preventing Online Gambling Money Laundering, Government Enhances Financial Literacy for the Public
Jakarta – The government is stepping up its efforts to enhance public financial literacy regarding cryptocurrency assets as part of a collaborative initiative to prevent money laundering from online gambling activities. This move follows the revelation of an online gambling fund flow amounting to Rp28.48 trillion, which had been redirected into cryptocurrency assets.
The Head of the Financial Transaction Reports and Analysis Center (PPATK), Ivan Yustiavandana, stated that his agency has been coordinating with law enforcement regarding the circulation of money from online gambling entering the cryptocurrency ecosystem.
“The report has been submitted to law enforcement for follow-up action. We have sent it to the relevant authorities,” said Ivan.
Meanwhile, Member of Commission XI of the House of Representatives, Puteri Anetta Komarudin, emphasized the importance of financial literacy to prevent the public, particularly the younger generation, from falling into risky investment schemes without sufficient understanding.
“This should be a focus for the OJK (Financial Services Authority) this year. The fear of missing out (FOMO) phenomenon is encouraging many young people to invest in cryptocurrencies without understanding the risks, especially due to the influence of online influencers,” said Puteri.
In line with this, fellow Member of Commission XI, Musthofa, urged the OJK to tighten supervision over cryptocurrency transactions to prevent misuse.
“Young people must be given a better understanding so that they are not enticed by the promise of high profits from cryptocurrency assets without understanding the potential risks,” Musthofa stressed.
Meanwhile, the Head of the Financial Sector Technology Innovation, Digital Financial Assets, and Cryptocurrency Supervision at OJK, Hasan Fawzi, confirmed that his agency has been working with PPATK to monitor and reduce the misuse of cryptocurrency in the money laundering practices tied to online gambling.
“We have reduced the utilization of cryptocurrency assets for money laundering from online gambling or other violations,” said Hasan.
According to OJK data from December 2024, the total cryptocurrency transactions in Indonesia reached Rp650 trillion, with an average daily transaction volume of Rp2 trillion. Tight supervision and enhanced public education are considered key to preventing the potential misuse of digital assets for illegal activities.
The synergy of all societal elements is seen as a strategic step in strengthening the financial monitoring system and financial literacy efforts to curb the rate of money laundering through online gambling.
