Bali is one of the safest travel destinations in Asia. As with any travel hotspot, though, scams are an issue.
One of the most common scams seen in Bali and across the world is the money exchange scam. Despite this classic trick being exposed in viral videos time and again, tourists are still being duped, and leaders in Bali want to ensure that no more tourists are caught out.
In Bali, money exchange kiosks are still a big thing. Although more and more tourists are using international travel cards, credit cards, and digital payments are becoming more widely accepted across the island, money exchange services are still widely used by tourists.
There are two layers to the issues surrounding dodgy money-exchange outlets in Bali. The first is that many are simply not operating legally. These outlets operate without business permits or licenses and are entirely illegal. The second issue is that many of these outlets are then carrying out scams against tourists, which range from unfair exchange rates to giving over the incorrect amount of cash at the end of the transaction.
Last week, Bali’s Governor Wayan Koster held a meeting with Bank Indonesia and the Bali Foreign Exchange Affiliation (APVA) in Denpasar to discuss the ongoing issues with illegal money changers in Bali’s top tourism resorts, including in destinations like Kuta, Legian, and Seminyak.
The Head of the Bank Indonesia Representative Office for Bali Province, Erwin Soeriadimadja, told reporters that the bank will do all it can to help crack down on illegal money changers in Bali, including stamping out fraudulent behaviour.
He shared, “Bank Indonesia continues to strengthen its oversight to ensure the smooth operation of the licensed non-bank money changer industry. We are also promoting various measures to curb illegal money changers, which require cross-agency synergy.”
To help tourists, Bank Indonesia Bali has just launched an information portal, moneychangerbali.com, which is integrated with the Bali Provincial Government’s lovebali.baliprov.go.id portal. This site serves as an information and educational resource for tourists and the public to help find officially licensed money changers across the province.
While the service is now up and running, the Chairman of the Bali Foreign Exchange Affiliation (APVA) has this week told reporters that more needs to be done to come down on legal loopholes that allow for these kinds of rogue money exchange outlets to open in the first place.
Ni Made Tirtaningsih told reporters that, as it stands, it is hard to bring illegal money changers to court. Not only this, but tourists who have been scammed don’t often report the situation to the police, let alone proceed with pressing charges.
In instances where illegal money changers are caught, reported, and held to account, they simply return the money that they have scammed, and the victims move on.
Tirtaningsih confirmed that the APVA is now working with Traditional Village Councils, in top destinations including Kuta, Legian, and Seminyak, to provide training and legal guidance to money exchange outlets to ensure that everyone is operating inside the law.
She confirmed that there is now a five-year plan in place to totally eradicate illegal money exchange outlets and money exchange scams from Bali. She noted that moving forward, all outlets must be formally registered with Bank Indonesia Bali and APVA.
She added, “Firm action will be taken against APVA Bali members who are proven to have received exchange proceeds from illegal money changers.”
Tourists traveling to Bali are advised to check out the moneychangerbali.com website to locate their nearest money exchange outlet while on vacation in Bali. Alternatively, there are money exchange outlets in banks, and upon arrival at Bali Airport.
More and more attractions, eateries, and tourism service providers in Bali are accepting card payments, though it is always advisable to carry cash throughout a vacation in Bali, especially small notes for entry fees to beaches, waterfalls, and small purchases like bottles of water and snacks.
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