OJK Puts AI Risk and Fraud on the Governance Agenda for Indonesia's Financial Sector
In one day, the regulator placed AI alongside cyber risk at its SPEKTA forum while its chairman publicly warned of AI-based fraud.
Indonesia's Financial Services Authority (OJK) placed fraud risk, cyber security and artificial intelligence as focal points for strengthening governance in the financial services sector at its SPEKTA forum on 27 October. The same day, the Chairman of the Board of Commissioners publicly warned about AI-based fraud, including deepfakes and identity impersonation. In the same week, OJK statements on banking AI emphasised that development must be balanced with governance, supervision and risk management.
The regulatory signal is explicit even though binding rules have not yet been issued: two presidential regulations, on AI ethics and the National AI Roadmap 2026-2029, remained drafts awaiting signature as of September 2026, and current instruments are non-binding, including the National AI Strategy (Stranas KA), Komdigi ethics guidelines and OJK's 2025 banking AI governance guidance. Financial institutions deploying AI are nonetheless expected to demonstrate governance, and vendors able to offer documented audit trails and explainable decisions ahead of binding rules are positioned to meet procurement demands earlier.