Bank Indonesia (“BI”) has issued Governor’s Board Member Regulation No. 14 of 2025, the second amendment to the rules governing the BI-FAST payment system (the “Regulation”). Effective 30 June 2025, the Regulation enhances fraud prevention, transaction monitoring, and cyber incident handling within BI-FAST. Certain technology protection requirements must also be met by 1 January 2026.
When fraud is suspected, a bank or financial institution authorised to provide BI-FAST services (BI-FAST participant) must notify BI within 30 minutes via the BI-FAST helpdesk or another designated channel and submit a complete fraud report within three calendar days. If a transaction is confirmed to be unauthorised, or if the customer’s account is suspected to be a mule account, the receiving bank may freeze, close the account, or return the funds to the sender.
For customers, this means that transactions flagged as suspicious—whether by your bank or the counterparty’s bank—may be delayed, frozen, or returned. While potentially disruptive, these measures are designed to protect your funds before any loss occurs.
The Regulation also strengthens cyber resilience. BI-FAST participants must report any cyber incident within one hour and maintain a “stop button” mechanism to suspend services during anomalies, fraud events, or cyberattacks. BI may temporarily halt BI-FAST operations across the network, either with prior notice or in urgent situations, to safeguard the system.
These measures provide tangible benefits: faster alerts allow banks to block illicit transfers before withdrawal; interbank cooperation ensures fraudulent activity is addressed across the payment network; and shutting down mule accounts reduces exposure to illicit fund flows. However, the tighter controls may also result in payment delays.
Customers are advised to anticipate these changes by reviewing payment workflows, verifying counterparties, and maintaining clear communication with their bank. This proactive approach will help minimise disruption while taking advantage of BI’s strengthened safeguards against financial crime and cyber threats.