JAKARTA – The increasing number of fraud cases in the financial services sector has prompted the Financial Services Authority (OJK) to introduce a new regulation through POJK Number 28 of 2024.

The regulation addresses the management of conduct records through the "Sistem Informasi Pelaku" (SIPELAKU), a system that tracks the conduct of individuals in the financial services sector.

Mahendra Siregar, Chairman of OJK's Board of Commissioners, stated that the primary goal of this regulation is to curb the growing prevalence of fraud in the sector.

“The source [of information] will come from reports submitted by financial institutions, and as it evolves, it will include other data sources,” Mahendra explained at an OJK Board of Commissioners Meeting press conference last week.

Technically, SIPELAKU will assist in disseminating a database of conduct records. This database will serve as a reference for financial institutions when interacting with or profiling potential clients.

“This will reduce risks and minimize losses borne by the public and the financial services industry due to fraud,” Mahendra added. (KR)