The alleged IDR54bn (US$3.04m) investment fraud and payroll-related embezzlement could lead to further losses, weighing on the insurer's capital and profitability.
The sentencing includes a HK$3.7m (US$471,626) restitution order in favour of CCB Asia, reflecting the value of cryptocurrency bribes accepted by the former banker.
They will combine claims intelligence and specialist expertise to identify suspicious claims patterns and curb insurance fraud across health and motor lines.
The regulator plans closer oversight of claims assessment practices, with a particular focus on claims leakage, dispute trends and potential on-site reviews.
The plan also calls for expanded market-based reinsurance, stronger catastrophe protection, and greater technology investment across the agricultural insurance sector.
The move follows a series of cases involving employees at the life insurer and marks an escalation from document-based supervision to direct examination of its internal controls.
Insurers are among the firms facing scrutiny over AI customer service systems that delay callers reaching human agents, as complaints to the FSS rise 17%.
The authorities searched nine locations and made 15 arrests linked to suspected fraudulent practices at an insurance exam centre for FLMI qualification.
