��������Ƶ

A Fraud Prevention Policy sets clear rules and steps to protect organizations from financial crimes and dishonest behavior. These policies have become essential for Indonesian businesses, especially since the establishment of the Financial Services Authority (OJK) regulations on corporate governance and risk management.

The policy outlines specific controls, reporting procedures, and employee responsibilities to detect and prevent fraud. It typically covers areas like bribery prevention, asset protection, whistleblowing channels, and internal audit processes - all aligned with Indonesian anti-corruption laws and the Criminal Code (KUHP). Good policies also include regular training requirements and clear consequences for violations.

Your organization needs a Fraud Prevention Policy when handling financial transactions, managing sensitive data, or operating in high-risk sectors like banking or public procurement. Indonesian regulators, particularly OJK, require these policies for financial institutions and listed companies to demonstrate strong internal controls.

Use this policy during key business moments: when onboarding new employees, updating compliance programs, responding to audit findings, or expanding operations. It's especially crucial after detecting suspicious activities or when entering partnerships with government entities. The policy helps meet requirements under Indonesia's anti-corruption laws while protecting your organization from financial losses and reputational damage.

• Basic Compliance Policies: Cover essential fraud controls, whistleblowing procedures, and reporting mechanisms - ideal for small to medium businesses meeting OJK requirements
• Financial Institution Policies: Include specialized controls for banking transactions, digital payments, and customer verification as required by Bank Indonesia
• Public Sector Policies: Focus on procurement integrity, asset protection, and anti-corruption measures aligned with state administrative requirements
• Corporate Group Policies: Designed for conglomerates with multiple subsidiaries, featuring coordinated reporting systems and group-wide control standards

• Board of Directors: Approve and oversee Fraud Prevention Policies, ensuring alignment with corporate strategy and risk appetite
• Compliance Officers: Draft, implement, and monitor the policy, coordinating with OJK and internal stakeholders
• Internal Audit Teams: Evaluate policy effectiveness, conduct investigations, and recommend improvements
• Department Managers: Ensure their teams understand and follow policy requirements, report violations
• All Employees: Must understand, sign, and comply with the policy, including reporting suspicious activities through proper channels

• Risk Assessment: Map your organization's vulnerable areas, high-risk operations, and past incidents
• Regulatory Review: Check current OJK guidelines and anti-corruption laws applicable to your industry
• Internal Controls: Document existing control systems, reporting procedures, and accountability chains
• Stakeholder Input: Gather feedback from department heads about practical challenges and control gaps
• Policy Framework: Use our platform to generate a comprehensive policy that includes all required elements and local compliance standards
• Implementation Plan: Outline training requirements, monitoring procedures, and review schedules

• Policy Purpose: Clear statement of objectives and scope aligned with OJK regulations
• Definitions Section: Detailed explanations of fraud types, misconduct, and key terms under Indonesian law
• Reporting Mechanisms: Whistleblowing procedures and protection measures for informants
• Internal Controls: Specific prevention measures, authority limits, and segregation of duties
• Investigation Protocol: Steps for handling suspected fraud cases and evidence preservation
• Disciplinary Actions: Clear consequences for violations, aligned with labor laws
• Review Process: Regular policy updates and compliance monitoring requirements

While a Fraud Prevention Policy and a Compliance and Ethics Policy might seem similar, they serve distinct purposes in Indonesian organizations. A Fraud Prevention Policy specifically targets financial crimes and dishonest behavior, while a Compliance and Ethics Policy covers broader ethical conduct and regulatory adherence.

• Scope and Focus: Fraud Prevention Policies concentrate on preventing financial misconduct, asset misappropriation, and corruption. Compliance and Ethics Policies cover all regulatory requirements, including environmental, labor, and corporate governance standards
• Implementation Level: Fraud policies require specific control mechanisms and investigation procedures. Ethics policies establish general behavioral guidelines and values
• Regulatory Oversight: Fraud policies align closely with OJK and anti-corruption requirements. Ethics policies respond to broader corporate governance standards
• Enforcement Approach: Fraud policies include detailed detection and punishment protocols. Ethics policies emphasize prevention through culture and training