OJK imposes Rp875 million sanction on Indosaku for breaching debt collection rules

Semarang, Central Java (ANTARA) - The Financial Services Authority (OJK) has imposed an administrative sanction of Rp875 million on PT Indosaku Digital Teknologi (Indosaku) for non-compliance in managing and supervising debt collection activities. The Head of the Surveillance and Integrated Financial Services Sector Policy Department, Agus Firmansyah, in a written statement received in Semarang, Central Java, on Friday, explained that the violations primarily occurred in debt collection carried out through third parties. OJK emphasised that the use of third parties in debt collection activities does not transfer or reduce the provider’s responsibility. “Every provider is obliged to ensure that the appointed third party conducts debt collection activities in a compliant, professional, ethical manner, and in accordance with applicable laws and regulations,” said Agus. The plan includes improvements and refinements to debt collection policies and procedures to align with prevailing regulations. Additionally, a comprehensive evaluation and strengthening of Cooperation Agreements (PKS) with third parties, including provisions on behavioural standards, compliance obligations, supervision mechanisms, reporting, and sanctions. OJK also requires enhancements to quality control mechanisms that cover aspects of operational performance, compliance, ethics, and debt collection behaviour quality by Indosaku.