FICO Survey: Alarming Acceptance of 'Liar Loans' Among Indonesian Consumers
FICO's latest global consumer fraud survey reveals alarming attitudes towards first-party financial fraud in Indonesia. Key findings include:
- 23% of Indonesians believe it's acceptable to exaggerate income on loan applications in certain circumstances
- 34% think it's normal or acceptable to misrepresent income on personal loan applications
- 25% believe it's acceptable to lie on mortgage applications under certain circumstances
- 77% view falsifying insurance claims as unacceptable
The survey, conducted in November 2023, included 1,001 Indonesian adults among 12,000 global respondents. FICO warns that these attitudes pose significant risks to financial institutions, especially in the growing Indonesian mortgage market. The company emphasizes the need for improved fraud detection measures and thorough verification processes to combat 'liar loans' and protect both banks and consumers from engaging in fraudulent behavior.
Il più recente sondaggio globale sui comportamenti fraudolenti dei consumatori di FICO rivela atteggiamenti allarmanti nei confronti della frode finanziaria di prima parte in Indonesia. I risultati principali includono:
- Il 23% degli indonesiani ritiene accettabile esagerare il reddito nelle domande di prestito in determinate circostanze
- Il 34% pensa che sia normale o accettabile rappresentare in modo errato il reddito nelle domande di prestito personale
- Il 25% ritiene accettabile mentire nelle domande di mutuo in specifiche situazioni
- Il 77% considera inaccettabile falsificare le rivendicazioni assicurative
Il sondaggio, condotto a novembre 2023, ha incluso 1.001 adulti indonesiani tra 12.000 intervistati globali. FICO avverte che questi atteggiamenti pongono significativi rischi per le istituzioni finanziarie, specialmente nel crescente mercato dei mutui indonesiani. L'azienda sottolinea la necessità di migliorare le misure di rilevamento delle frodi e i processi di verifica accurati per combattere i 'prestiti mentitori' e proteggere sia le banche che i consumatori dall'impegnarsi in comportamenti fraudolenti.
La última encuesta global sobre fraude al consumidor de FICO revela actitudes alarmantes hacia el fraude financiero de primera parte en Indonesia. Los hallazgos clave incluyen:
- El 23% de los indonesios cree que es aceptable exagerar los ingresos en las solicitudes de préstamo en ciertas circunstancias
- El 34% piensa que es normal o aceptable presentar ingresos incorrectos en las solicitudes de préstamos personales
- El 25% cree que es aceptable mentir en las solicitudes de hipoteca bajo ciertas circunstancias
- El 77% considera inaceptable falsificar reclamaciones de seguros
La encuesta, realizada en noviembre de 2023, incluyó a 1.001 adultos indonesios entre 12.000 encuestados a nivel global. FICO advierte que estas actitudes representan riesgos significativos para las instituciones financieras, especialmente en el creciente mercado hipotecario indonesio. La empresa enfatiza la necesidad de mejorar las medidas de detección de fraude y los procesos de verificación exhaustivos para combatir los 'préstamos mentirosos' y proteger tanto a los bancos como a los consumidores de involucrarse en comportamientos fraudulentos.
FICO의 최신 글로벌 소비자 사기 조사에서는 인도네시아의 1자 사금융 사기에 대한 우려되는 태도를 보여줍니다. 주요 발견 사항은 다음과 같습니다:
- 23%의 인도네시아 사람들이 특정 상황에서 대출 신청서에서 소득을 과장하는 것이 허용된다고 믿습니다.
- 34%는 개인 대출 신청서에서 소득을 허위로 표현하는 것이 정상적이거나 허용된다고 생각합니다.
- 25%는 특정 상황에서 모기지 신청서에서 거짓말하는 것이 허용된다고 믿습니다.
- 77%는 보험 청구를 위조하는 것을 용납할 수 없다고 여깁니다.
이번 조사는 2023년 11월에 실시되었으며, 12,000명의 글로벌 응답자 중 1,001명의 인도네시아 성인이 포함되었습니다. FICO는 이러한 태도가 금융 기관에 중대한 위험을 초래한다고 경고하며, 특히 성장하는 인도네시아 모기지 시장에서 더욱 그렇습니다. 이 회사는 '거짓 대출'을 방지하고 은행과 소비자 모두가 사기 행위에 연루되지 않도록 하기 위해 사기 탐지 조치와 철저한 검증 프로세스의 필요성을 강조하고 있습니다.
Le dernier sondage mondial de FICO sur la fraude des consommateurs révèle des attitudes alarmantes envers la fraude financière de première partie en Indonésie. Les principales conclusions incluent :
- 23% des Indonésiens estiment qu'il est acceptable d'exagérer ses revenus sur les demandes de prêt dans certaines circonstances
- 34% pensent qu'il est normal ou acceptable de déformer ses revenus sur les demandes de prêt personnel
- 25% estiment qu'il est acceptable de mentir sur les demandes de prêt immobilier dans certaines situations
- 77% considèrent que falsifier des demandes d'assurance est inacceptable
Le sondage, réalisé en novembre 2023, a inclus 1 001 adultes indonésiens parmi 12 000 répondants mondiaux. FICO avertit que ces attitudes présentent des risques significatifs pour les institutions financières, en particulier sur le marché hypothécaire indonésien en pleine expansion. L'entreprise souligne la nécessité d'améliorer les mesures de détection des fraudes et les processus de vérification approfondis pour lutter contre les 'prêts mensongers' et protéger à la fois les banques et les consommateurs contre des comportements frauduleux.
Die jüngste globale Verbraucherbetrugsumfrage von FICO zeigt alar-mierende Einstellungen gegenüber Erster-Versicherungsbetrug in Indonesien. Die wichtigsten Ergebnisse sind:
- 23% der Inder glauben, dass es akzeptabel ist, in bestimmten Fällen das Einkommen in Darlehensanträgen zu übertreiben
- 34% halten es für normal oder akzeptabel, das Einkommen in persönlichen Darlehensanträgen falsch darzustellen
- 25% glauben, dass es in bestimmten Fällen akzeptabel ist, in Hypothekenanträgen zu lügen
- 77% betrachten die Falsifizierung von Versicherungsansprüchen als inakzeptabel
Die Umfrage, die im November 2023 durchgeführt wurde, umfasste 1.001 indonesische Erwachsene unter 12.000 globalen Befragten. FICO warnt, dass diese Einstellungen erhebliche Risiken für Finanzinstitute darstellen, insbesondere im wachsenden indonesischen Hypothekenmarkt. Das Unternehmen betont die Notwendigkeit, die Betrugserkennung zu verbessern und gründliche Prüfprozesse einzuführen, um 'Lügnerdarlehen' zu bekämpfen und Banken sowie Verbraucher vor betrügerischem Verhalten zu schützen.
- None.
- None.
1 in 4 Indonesians think it’s OK to deliberately mislead on personal loans, mortgages, auto and other applications.
Highlights
-
A third of Indonesians (
34% ) think it’s OK or normal for people to exaggerate their income on loan applications -
One in ten Indonesians (
10% ) believe it’s normal for people to deliberately misrepresent their income on mortgage applications -
Falsifying insurance claims is viewed as the most taboo form of fraud, with more than three in four Indonesians (
77% ) believing it is not acceptable
Global analytics software leader FICO today shared its latest global consumer fraud research, revealing alarming attitudes toward first-party financial fraud both globally and in the Indonesian market.
The survey finds that while most Indonesian respondents view the misrepresentation of information when applying for financial products and making insurance claims unacceptable, a sizeable portion of the population feels otherwise.
Two in five Indonesians think it is normal or acceptable in some cases to misrepresent their income on an application for a bank account (
These sentiments closely align with global attitudes. The survey reveals that the majority of consumers (
“Consumers must understand that misrepresentation of information when applying for financial products can lead to serious consequences, even if done unintentionally,” said Aashish Sharma, APAC segment leader for risk lifecycle and decision management at FICO. “Banks can tackle the real problem of ‘liar loans’ by improving their ability to detect inaccuracies, enabling safeguards from bad debt while effectively preventing customers from committing fraud.”
More information: https://www.fico.com/en/latest-thinking/ebook/consumer-survey-2023-digital-banking-customer-preferences-and-fraud-controls
Growing Mortgage Sector at Risk of Application Fraud
The Indonesian mortgage market, estimated at
Even when a mortgage application from an existing customer appears legitimate on paper, the established banking relationship can be exploited to commit fraud. By exaggerating income, such as inflating self-employment earnings or overstating bonuses, and omitting debts or misrepresenting personal circumstances, applicants can manipulate the loan process. This makes it difficult for lenders to detect these discrepancies without thorough and proactive verification measures.
“While application fraud presents unique challenges, financial institutions can bolster their fraud defenses through industry-leading data analytic solutions,” said Sharma. “Risk assessments can be enhanced by applying anomaly detection analytics, conducting comprehensive data analysis, and continuously monitoring accounts for signs of sleeper fraud or impending bust-outs.”
Falsifying Insurance Claims Is Most Taboo
According to FICO’s research, falsifying insurance claims is viewed as the most taboo form of fraud, according to FICO’s research, with around two-thirds of consumers globally believing it is never acceptable to exaggerate the value of stolen property or add false items to a claim. This sentiment is echoed by more than three in four Indonesians (
Matching global trends, attitudes shift regarding other financial products. Half of consumers globally, including half of Indonesians, feel it is unacceptable to exaggerate income on a mobile phone contract (
“The FICO survey reveals concerning public perceptions about application fraud,” noted Sharma. “While many are adopting their views based on circumstances, fraud cannot be justified. Financial institutions that detect fraud before granting credit can protect themselves and prevent customers from inadvertently engaging in questionable or criminal behaviour.”
The survey was conducted in November 2023 by an independent research company adhering to research industry standards. 1,001 Indonesian adults were surveyed, along with approximately 12,000 other consumers in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240923668957/en/
Lizzy Li
RICE for FICO
+65 9034 7768
lizzy.li@ricecomms.com
Saxon Shirley
FICO
+65 9171 0965
saxonshirley@fico.com
Source: FICO
FAQ
What percentage of Indonesians think it's acceptable to exaggerate income on loan applications?
How do Indonesians view falsifying insurance claims?
What is the expected growth of the Indonesian mortgage market by 2029?
When was the FICO consumer fraud survey conducted?
How many Indonesian adults participated in the FICO survey?
