Executive Summary

Comparison between

Aug-Sep 2023 and May-Jun 2023

The total conversation about safety and security in Indonesia decreased by half in August – September compared to May – June. This decline was due to fewer viral tweets in August – September compared to May – June (a tweet about a voice note scam is an example of a post that went viral during this period). In absolute numbers, there were 94.7K posts in May – June compared to 47.7K in August – September. Prominent topics across the two reporting periods were similar – namely, the rise of digital banks and e-wallets and concerns about their susceptibility to scams and security risks compared to traditional banks and credit cards.

The conversation about payment methods increased by 41%, with the most significant growth coming from digital wallets and CNP. Digital wallets became the most discussed payment method for the first time due to a conversation about a fraud scheme based on fake frozen funds notifications from a mobile wallet app and the rising use of digital wallets on iGaming websites.

Fraud types conversation decreased by 25%, with a decline in discussions about identity theft, phishing, and lost/stolen cards. Voice note scams, which were prevalent in May - June, were not discussed in August - September, contributing to the overall drop in fraud-related conversations.

Fraud prevention conversation increased slightly, with a focus on secured payment methods and perceived vulnerabilities in digital banking security. Consumers expressed concerns about missing funds from their digital wallet balances, blaming poor security measures.

1. Conversations on Safety and Security

Overall, the Safety and Security conversation was sparked by alerts about a fraudulent scheme involving counterfeit notifications of frozen funds via a mobile wallet app. WhatsApp emerged as a prevalent channel exploited by scammers, prompting certain banks to focus on educating their customers about this particular threat. In addition, authorities actively participated in the fraud-related education conversation, sharing a video on recognising online fraud red flags. Social media discussions highlighted the increased sophistication of PayPal scammers, who were observed using multiple accounts to deceive victims. Meanwhile, news outlets reported about police arresting suspects in a Chinese love scam operation.

2. Safety and Security of different payment methods

Digital wallets became the most widely discussed Payment Method, accounting for 40% of the conversation. This surge in popularity is accompanied by concerns regarding their safety, especially when used in the context of iGaming. People shared doubts about online banking security, leading some users to recommend traditional banks over digital-only competitors. QRIS code usage for online transactions sparked conversations, and commuters welcomed tap-on bus payments using electronic money cards. QRIS stands for Quick Response Code Indonesian Standard. It was developed by Bank Indonesia and the Indonesian Payment System Association and allows for cashless payments in Indonesia, facilitated by scanning a QR code.

3. Types of fraud techniques

Identity theft and phishing discussions dominated Fraud Type conversations (84%), with scammers using fraudulent WhatsApp messages to trick victims into sharing personal information. Older individuals, who people saw as less digitally savvy, remained targets. Scammers exploited charity appeals and deceived even self-professed digitally aware users with sophisticated schemes, such as posing as bank customer service staff. Established scams continued to find new victims, including malware in WhatsApp messages, romance scams, and fraudulent freelance job offers. Cybercriminals targeted banking product users through phishing emails and SMS.

4. Fraud Prevention

Conversations about Fraud Prevention primarily revolved around secured payment methods (49%), with customers expressing concerns about digital banking security vulnerabilities and asking for improved account security. Users criticised financial institutions for their perceived poor responses to scam incidents. Data privacy was a significant topic, focusing on banking data breaches and confusion about how scammers get personal banking data. People expressed dissatisfaction with how the government and financial institutions handled fraud reports, noting a perceived lack of seriousness in addressing victims' concerns. Some successes in catching fraudsters were reported, notably involving romance scams.