Overview

After analyzing the results of a survey that it conducted in 2019, Indonesia's Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) revealed that the financial literacy index in Indonesia had reached a figure of 38.03%, marking an 8.39% increase over the figure of 29.7% posted in 2016’s index.[1] However, in spite of this upwards trend, Indonesia’s financial literacy index is still considered low by international standards, meaning that Indonesian citizens are still prone to fall victim to fake-investment scams.[2]