Be aware of the dangers & modes of buying and selling bank accounts

24 July 2025

Despite the convenience of digital banking technology, many users are still not fully aware of the threats of cybercrime and lawlessness that can occur through account trading. This activity has severe legal consequences and poses a great risk to your security and privacy.

Buying and selling bank accounts is often used as a criminal scheme to facilitate fraud, money laundering, online gambling, and other organised crimes. Many people are tempted to sell or lend their bank accounts to get money instantly, without understanding the risks involved. Therefore, it is important to know how to safely open an account and protect your personal and banking data from being used by irresponsible parties.

Why is Account Buying and Selling Dangerous?

Account buying and selling generally involves someone opening an account with a bank, then handing it over to another party to use. This can be done voluntarily or out of ignorance. But in practice, the account is actually used for various illegal activities.

Here are some reasons why this practice is dangerous:

1.   Supporting Criminal Activity

Many online fraudsters and digital crime syndicates utilize other people's accounts to avoid detection. These accounts are used as a holding account for the proceeds of crime.

2.   Legal Risks for Account Owners

Legal Risks for Account Owners

3.   Digital Identity Defamation

When an account is used for crime, your good name in the eyes of financial institutions can be tarnished. In the long run, this will make it difficult for you to apply for other financial products, such as mortgages, credit cards, or loans.

4.   Violation of the Electronic Information and Transaction Law and the Anti-Money Laundering Law

Under the Electronic Information and Transaction Law and the Anti-Money Laundering Law, buying and selling accounts is a violation of the law and can be subject to criminal sanctions.

Characteristics of Account Buying and Selling Modes that Should Be Watched Out

Account buying and selling modes can be seen from offers circulating on social media, chat applications, or online forums. The perpetrators usually use narratives that seem ‘legal’ or ‘harmless’, but actually lead to illegal actions.

Be wary if you encounter any of the following:

• Highly paid offers to lend personal data or sell personal accounts.

• An invitation to open an account for ‘business cooperation’, but the activity is unclear.

• Strangers or unknown parties asking you to open an account in your own name and then hand it over to them.

• Job offers or other commission-based offers that require the creation of an account, but the account is handed over to a third party.

Your personal and banking data is part of your legal identity. Giving it to others without authorisation can have legal consequences for you.

Open an Account Safely: The First Step to Protecting Your Banking Security and Privacy

To avoid the risk of buying and selling accounts, it is important that you open an account yourself and through official channels. Don't be tempted to open an account for someone else or give your personal details to anyone.

Here are some important things to consider before you open a bank account:

1.   Use Personal Electronic Devices

Make sure you open your account only through personal devices, such as your own mobile phone or laptop. Avoid using public devices, such as internet cafe computers or friends' mobile phones, which risk storing your information or data traces and do not use public wifi.

2.   Follow Official Bank Procedures

Open accounts only through the bank's official branch offices, official mobile banking apps and official bank web pages.

Do not be tempted by offers of instant account creation from unknown parties. Also avoid opening an account through unauthorised agents who promise fast service or no verification process.

3.   Don't Give Personal Information to Unknown Parties

Personal data such as ID card number, selfie with ID card, account number, PIN or OTP (One-Time Password), birth mother's name and digital signature are very sensitive information and must be kept confidential. Once this data is leaked, it can be used to create a fictitious account or break into your account.

If someone claiming to be a bank officer asks for this data, be sure to verify it first. Never provide data over the phone, text message, or social media.

Tips to Protect Personal Data

Maybank Indonesia always reminds customers to protect personal data and banking privacy.Here are important tips to protect personal data theft:

• Do not upload photos of KTP, NPWP, or other important documents to social media.
• Avoid using public WiFi networks when accessing financial services.
• Enable additional security features in mobile banking apps, such as PIN, biometric password, Secure2u passcode, and transaction notifications.
• Always log out of the app after use.
• Use strong passwords using a combination of uppercase, lowercase, numbers or symbols and different ones for each account, including mobile banking and email.

Keep your banking safe and private now. Protect your accounts and never be tempted to sell or lend them to prevent them from being misused by irresponsible parties!