A better credit card fraud prevention strategy for Indonesia

Hendi Yogi Prabowo

Journal of Money Laundering Control, 2012, vol. 15, issue 3, 267-293

Abstract: Purpose - The purpose of this paper, which is based on author's PhD study, is to assess the efficacy of Indonesia's credit card fraud prevention from a strategic point of view, using a model of payments fraud prevention practice developed by the author based on similar practices in the USA, the UK and Australia. Design/methodology/approach - Primary and secondary data, particularly from the payments system of the USA, the UK, Australia and Indonesia were used. Such data were collected by means of literature reviews and in‐depth interviews with payments system professionals. Findings - The author establishes that credit card fraud prevention practice in Indonesia is still at a lower level of robustness than those in the USA, the UK and Australia. Deficiencies in the credit card fraud prevention practice in Indonesia are indicated,inter alia, by a lack of reliable fraud data collection, management and distribution mechanisms as well as a lack of effective and efficient identity management practice. Deficiencies and weaknesses in the system should be identified and action taken to make it more consistent with credit card fraud prevention practices of other countries. Originality/value - The paper sees credit card fraud prevention practice in Indonesia as a function of many factors which influence one another, based on which the analysis is built.

Keywords: United States of America; United Kingdom; Australia; Indonesia; Credit cards; Fraud; Credit card fraud; Payments system; Crime displacement; Identity management (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:13685201211238034

DOI: 10.1108/13685201211238034

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