Information in financial statement is an important information for investors in making investment decisions. Therefore, the information must be relevant and represented accurately. However, since the global financial crisis in 2008, many financial reports have not been properly represented by management. Management manipulates the financial statements to make the investors believe that the company has a good financial condition and performance. The elements of fraud in the fraud diamond model are the causes that encourage management to commit fraud. Therefore, this study aims to test again the detection of fraudulent financial reporting using the diamond fraud model in the financial industry. This research is using secondary data observation technique which acquired from annual financial reports for companies in financial industries that are listed on the Indonesia Stock Exchange in 2010-2017 period. By using the judgment sampling method, 56 companies’ sample are acquired. The data analysis technique used for hypothesis test is multiple linear regression analysis. The result of this research shows that effective monitoring and financial targets have a positive effect on fraudulent financial reporting, however external pressures have a negative effect on fraudulent financial reporting. While other variables (financial stability, personal financial needs, nature of the industry, rationalization, and capability) do not affect fraudulent financial reporting.