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Asia Pacific Fraud Journal
Published by Association of Certified Fraud Examiners Indonesia Chapter
ISSN : 25028731     EISSN : 2502695X     DOI : -
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
ASIA PACIFIC FRAUD JOURNAL (APFJ) firstly published by Association of Certified Fraud Examiners (ACFE) Indonesia Chapter in 2016. APFJ registered on CrossRef, then every article published di APFJ has Digital Object Identifier (DOI). APFJ published research and review articles. APFJ also published the articles from Call For Paper that managed by ACFE Indonesia Chapter. - Forensic Accounting - Fraud Prevention - Fraud Detection - Investigation - Crime - Criminalogy.
Arjuna Subject : -
Articles 10 Documents
 1 
Search results for , issue "Vol. 10 No. 1: 1st Edition (January-June 2025)" : 10 Documents clear
The Role of Organizational Governance and Environmental Social Performance on Fraud Tendency Anggraini, Melisa; Estrini, Dwi Hayu; Rahayu, Puspita Puji
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.360

Abstract

This study aims to analyze the relationship between the independent board of commissioners, managerial ownership, and social environmental performance towards fraud. The sample of this research consists of 121 companies from the Asia Pacific Emerging Market and listed on Bloomberg’s database from 2016 to 2022. The multiple regression analysis is conducted to examine the relationship between the independent board of commissioners, managerial ownership, and social environmental performance towards fraud. The findings of this study showed that independent boards of commissioners and managerial ownership don’t affect fraud, but social-environmental performance does. This study contributes to the existing literature by providing evidence on the global market and how the elements of corporate governance and social environmental performance can affect fraud. This study also supports the stakeholder theory, which proposes that when a company makes social environmental performance a strategic orientation of the company, then fraud can be minimized because the company is not just responsible for itself but also for the other stakeholders.
Fraud Risk Analysis Using Fraud Hexagon Model and Beneish M-Score in the Financial Report of PT Indo Listrik Nusantara Period 2021-2023 Sari, Eko Gumaya; Cahyana
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.365

Abstract

The purpose of this study is to analyze and identify the possibility of Fraud in the financial report of PT. Indo Listrik Nusantara. Using a mixed qualitative and quantitative methodology. The quantitative technique calculates the Beneish index ratio, while the qualitative method selects a sample of questionnaire responses from 52 respondents who are considered significant to be examined. An overall analysis of PT Indo Listrik Nusantara for the past three years, namely 2021 to 2023, revealed a risk of Fraud based on respondent responses. Additional searches and interviews revealed that the Company had double-booked on two different databases, namely internal management and taxation, which had an impact on the decline in the Company’s performance. Although activities like this often occur, the 2022 financial report with the calculation of the Beneish index ratio is an example of organized Fraud. This shows that the Company will not have a strong financial performance in 2022 because high sales figures are followed by high overall costs. The Beneish index ratio and the fraud hexagon are excellent tools for determining the risk of Fraud in a company’s financial statements.
Work Environment Factors and Retaliations Against Whistleblowing Intention Vallentino Dante Mulyono; Martdian Ratna Sari
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.371

Abstract

The Whistleblowing is a powerful tool for detecting fraud. However, according to the 2024 Corruption Perception Index, Indonesia’s score has declined significantly compared to previous years, showing no signs of a full recovery. This, suggesting a weak intention to whistleblow in Indonesia. This study aims to identify factors contributing to this weakness using the Partial Least Squares (PLS) method. The research considers both intrinsic and extrinsic factors, represented by rationalization, fear of retaliation, reward/punishment systems, work environment, and internal system responsiveness. The findings reveal that fear of reprisals, the work environment, and internal system responsiveness significantly influence whistleblowing intention.
Factors that Shape an Honest and Ethical Culture Amrullah, Muhamad Tohir; Sari, Martdian Ratna
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.373

Abstract

This research aims to identify the factors that shape an honest and ethical culture in the context of fraud prevention. It is important to conduct this research as unethical and dishonest incidents often occur all over the world. The sampling technique was conducted on employees currently working and with work experience in Indonesia, resulting in 200 respondents. Data analysis was performed using Structural Equation Modelling (SEM). The results of this study found that only the tone at the top and effective reward and punishment significantly influenced the formation of an honest and ethical culture. Meanwhile, proper employee recruitment, communication of expectations, and a positive work environment did not significantly impact. This research contributes to stakeholders, especially management considerations, to form an honest and ethical culture within a company.
Reading Between the Lines: Incorporating Text Mining and Machine Learning in Financial Fraud Detection Septia Wibowo, Agung; Istianah, Iis
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.382

Abstract

Notwithstanding rigorous oversight in the Indonesian capital market, the manipulation of financial reports continues to occur. This study examines the potential for employing machine learning (ML) models, which utilize linguistic features and financial ratios, in effectively detecting deception or manipulation. Drawing upon publicly listed Indonesian companies as the samples, this research validates the predictive capabilities of the Beneish M-Score, confirms the occurrence of negative language in fraudulent reports, and demonstrates the superiority of the Gradient Boosting ML model in identifying anomalies within financial and textual data. The study distinctively adapts to Indonesian-language annual reports, thereby addressing a gap in the linguistic-based fraud detection literature. These findings not only advance our comprehension of how linguistic features and financial ratios provide practical tools for fraud detection, thereby preparing the academic and professional community in this domain.
Bibliometric Analysis and Visualization: Fraud Accounting Research Winarto, Wahid Wachyu Adi
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.385

Abstract

This study systematically examines the intellectual structure of accounting fraud research, identifying key trends, gaps, and opportunities to guide future scholarly and practical efforts in fraud detection and prevention. Using bibliometric analysis, we evaluate 193 Scopus-indexed articles (1993–2024) with R-Studio, VOSviewer, and Excel to map influential authors, keyword networks, citation trends, and collaboration patterns. The field gained momentum post-2016, with the United State dominating research output. However, studies remain siloed most focus on fraud detection rather than prevention, and minimal cross-author collaboration exists. Keyword analysis reveals evolving themes, yet few explore accounting techniques as proactive fraud deterrents. The study relies on Scopus data, potentially excluding relevant non-indexed works. Additionally, bibliometric analysis emphasizes trends over in-depth theoretical critique. Practitioners gain a consolidated view of fraud research, while researchers can leverage identified gaps, particularly in prevention strategies to design impactful studies. Policymakers may use findings to encourage interdisciplinary collaboration. This is among the first bibliometric reviews to systematically assess accounting fraud literature, offering a visual and analytical roadmap for future innovation in fraud prevention. By highlighting understudied areas, it challenges researchers to move beyond detection toward actionable solutions.
Personal Behavioral Factors that Influence Corruption in the Electricity Business Sector: Internal Auditor’s Perspective Rahmayani, Vita; Br Simbolon, Astika Lorena; Rahmani, Rizki; Kharis, Ridwan
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.386

Abstract

Corruption is defined as an extraordinary crime by law because it has a detrimental impact and causes public condemnation. Data trends show an increase in corruption cases in Indonesia every year by 32% over the past five years, both in cases and perpetrators, including in electricity sector companies. The electricity business, with its inherent business environment, is one of the most vulnerable sectors. This study aims to examine personal behavioral factors, in accordance with research conducted by Albrecht, which greatly influence corruption in electricity business organizations. This study uses a causal associative approach to obtain the ten most expected personal behavioral factors based on expert assessments, which are then evaluated by internal auditors who are employees of electricity business organizations. Furthermore, the results of the study are validated to determine the factors that significantly influence corruption using the t-test method with a significance threshold of ? <0.05. The test results show that high personal debt, excessive lifestyle, and sales behavior significantly influence corruption. Based on the results of this study, electricity business organizations can develop their internal controls by considering these factors to prevent corruption.
Cyber Security Awareness, Knowledge and Behavior of Digital Banking Users in Salatiga Nagari, Salma Faundria; Raharja, Surya
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.398

Abstract

Digital banking has become one of the fastest-growing techno-logical advances in the banking sector. This study aims to analyze the relationship between cybersecurity awareness, knowledge, and behavior among digital banking users in Salatiga City. Using a quantitative approach, data were collected from 200 respondents and analyzed with SmartPLS 4. The results show that cybersecurity knowledge has a significant positive influence on both awareness and behavior. Awareness also directly affects behavior. However, awareness does not significantly mediate the relationship between knowledge and behavior. This implies that while awareness is important, knowledge plays a more dominant role in shaping users’ cybersecurity behavior. This study contributes to the banking industry by providing insights to enhance user cybersecurity through targeted education and awareness programs. Additionally, it enriches the academic literature on cybersecurity behavior in the context of digital banking users, particularly in developing regions. Future research is encouraged to explore other influencing factors such as motivation, perceived risk, or institutional support.
Fraud Syndicates Within Digital Ecosystem: Graph Network and Transaction Analysis Approach Irawandi, Ferdi Hidayat; Yohanes, Kristy Natasha; Alham, Lalu
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.381

Abstract

This paper aims to develop and test methods to detect organized crime, fraud syndicates, and Money Laundering schemes within an e-wallet ecosystem. Analytical An analyticalprocess framework combining Graph Analytics and Supervised Learning is developed and trained with sample spaces of fraud and non-fraud. The pipeline utilized Heterogeneous Graph Transformation (HGT), Graph Statistics (Centrality Measures and Community Detection), and a Gradient Boosting Model to produce models for the detection of fraud syndicate syndicatesand organized crime. Welch’s t-test is employed to infer variance differences between samples. Findings confirm the hypothesis that fraud networks are markedly different, exhibiting a more centralized and isolated network compared to the organic, interconnected behaviors of non-fraudulent users. Fraud networks are further characterized by multiple isolated clusters, indicating distinctive groups or behaviors. The proposed method can provide validated methods of fraud and money laundering detection, especially for financial decision-makers and policymakers, to enhance fraud detection systems by improving the protection, integrity, and security of customers and digital transactions.
Investigative Auditing and Fraud: A Systematic Literature Review through a Theoretical and Bibliometric Lens Suryani, Irma; Syahrudin, M.
Asia Pacific Fraud Journal Vol. 10 No. 1: 1st Edition (January-June 2025)
Publisher : Association of Certified Fraud Examiners Indonesia Chapter

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21532/apfjournal.v10i1.400

Abstract

This study aims to examine the role of investigative auditing in detecting and disclosing fraud by identifying red flags within the context of increasing public scrutiny and expectation gaps in audit functions. Employing a Systematic Literature Review (SLR) combined with bibliometric analysis, the research utilizes Scopus-indexed journal articles published between 2015 and 2025, with the support of the Watase Uake platform to ensure structured article selection and keyword visualization. The study is grounded in the Expectation Gap Theory and Fraud Diamond Theory to analyze both behavioral and systemic dimensions of fraud. The findings reveal that although red flags such as lifestyle indicators and behavioral anomalies are widely acknowledged in fraud detection, current literature tends to focus more on traditional audit procedures than on the specific functions of investigative audits. Bibliometric mapping also highlights a concentration of studies around general fraud detection, with fewer focusing on the practical applications of investigative auditing. This paper provides novel insights by integrating theoretical analysis with bibliometric evidence, offering a clearer understanding of research gaps and future directions in investigative audit studies. The study adds value by reinforcing the importance of strengthening investigative audit capabilities and aligning them more closely with stakeholder expectations and the evolving nature of fraud.

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