Violate Collection Rules, OJK Sanctions Indosaku Rp875 Million

Rupiah (Photo: between)

JAKARTA - The Financial Services Authority (OJK) has imposed an administrative sanction of IDR 875 million on PT Indosaku Digital Teknologi (Indosaku). This was done because of non-compliance in the management and supervision of billing activities.

Head of the Department of Surveillance and Policy of the Integrated Financial Services Sector Agus Firmansyah explained that the violations mainly occurred in billing carried out through third parties.

OJK emphasized that the use of third parties in collection activities does not shift or reduce the organizer's responsibility.

"Each organizer must ensure that the third party appointed carries out the collection activities in a compliant, professional, ethical, and in accordance with the provisions of laws and regulations," said Agus, quoted by Antara.

In addition to the administrative fine, OJK also provided a written warning to the President Director of Indosaku as well as an order to prepare and implement a plan to improve the collection activities.

One of the plans is related to the improvement and refinement of policies and billing procedures to comply with applicable regulations.

Then, a thorough evaluation and strengthening of the Cooperation Agreement (PKS) with third parties, including arrangements regarding standards of conduct, compliance obligations, monitoring mechanisms, reporting, and sanctions.

OJK also asked for improvements to the quality control mechanism, which includes aspects of operational performance, compliance, ethics, and the quality of billing behavior by Indosaku.

Finally, strengthening training, monitoring, and periodic evaluation of billing personnel, including consumer complaint handling mechanisms.

"OJK also asked the Board of Directors of Indosaku to commit to implementing these improvement steps thoroughly and on time," said Agus.

Agus stated that OJK would closely monitor the implementation of the intended action plan.

If later on there is found to be continued non-compliance or violations, OJK will take more stringent supervisory and enforcement measures in accordance with the provisions of laws and regulations.

To all Financial Services Business Operators (PUJK), OJK asks to ensure that every billing activity to consumers, including those carried out through third parties, is carried out in accordance with the code of ethics and applicable laws and regulations.

OJK also urges the public to immediately submit complaints to OJK if they experience billing practices that contain threats, intimidation, harassment, dissemination of personal data, or other actions that are not in accordance with the provisions.