The two fraud cases that have come to light in the last week have rightly caused people to doubt the effectiveness of the banking oversight system. The first led to a number of Bank Tabungan Negara (BTN) customers losing more than Rp500 billion, while the second cost seven banks a total of Rp836 billion. Neither case would have been possible without the involvement of the banks' insiders.

The impact of this fraud reaches far beyond the material l