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Online Gambling Threatens Savings and Financial Stability: Bank Indonesia

By Admin 1 Rabu, 04 Desember 2024 Pengunjung (38) 1 Mins Read
online-gambling-threatens-savings-and-financial-stability-bank-indonesia

Inp.polri.go.id - Jakarta.  The Central Bank, Bank Indonesia (BI), has raised concerns about the economic and financial risks posed by online gambling, highlighting its impact on household savings, economic growth, and financial stability.

"Spending on online gambling reduces household consumption in productive sectors," said Dicky Kartikoyono, the Head of BI's Payment System Policy Department, on Tuesday (3/12/2024).

BI emphasized that the flow of gambling funds increases the risk of money laundering and other illicit activities, which could destabilize the financial sector. Furthermore, much of the money is transferred to offshore operators, contributing to capital outflows.

In response, Indonesia is intensifying efforts to combat online gambling. The initiative involves collaboration among government agencies, including BI, the Financial Services Authority (OJK), the Financial Transaction Reports and Analysis Center (PPATK), and other key stakeholders, as reported by antaranews.com.

OJK has already blocked more than 8,000 accounts linked to online gambling. Banks have implemented systems to detect and investigate suspicious accounts through Enhanced Due Diligence (EDD), which includes deeper scrutiny and verification of flagged accounts.

(mg/inp/pr/nm)

 

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