OJK Summons Toyota Astra Financial Services Over Rogue Debt Collectors

The Financial Services Authority (OJK) has requested a clarification from PT Toyota Astra Financial Services (TAFS) regarding alleged violations in the credit collection process that occurred in Serang, Banten, some time ago. In a meeting held on Monday, OJK sought explanations and clarification from PT TAFS over circulating information about the company’s alleged links to actions by rogue debt collectors who used violence in their collections. This step was taken as part of OJK’s supervisory function over Financial Services Business Actors, particularly in ensuring business activities are carried out in accordance with regulations and are oriented towards consumer protection. OJK requested PT TAFS to pay attention to and follow up on several aspects, including: conducting a comprehensive evaluation of the collection process, including an evaluation of cooperation with third-party collection service companies, to ensure all collection activities are carried out professionally, ethically, and do not violate applicable regulations; submitting complete data, documents, and clarifications needed for OJK supervisory purposes; conducting an internal review of the parties suspected of being involved and taking corrective steps according to regulations; strengthening the collection oversight mechanism, including for internal collection personnel and/or third parties; carrying out professional, proportional, and responsible public communication in order to maintain public trust in the financing industry; and submitting updates on the handling of the said collection case to OJK. OJK emphasised that it will continue to conduct in-depth investigations and monitor the follow-up actions taken by PT TAFS. Should the investigation find violations of applicable regulations, OJK may impose administrative sanctions and/or other supervisory actions according to its authority. OJK stressed that all Financial Services Business Actors are required to conduct business activities professionally, transparently, responsibly, and with a focus on consumer protection. Financial Services Business Actors are also responsible for the actions of third parties appointed and/or used in collection activities directed at consumers. OJK reminded that collection activities must be carried out ethically, without using violence, intimidation, threats, acts of humiliation, or other methods that conflict with applicable regulations and consumer protection principles. On the other hand, OJK also emphasised that, aside from having the right to protection, consumers are also obliged to fulfil all provisions in the agreed financing agreement. Paying instalments on time according to the amount and period agreed upon is a form of consumer responsibility. Consumers are also obliged to maintain and not transfer, assign, sell, or lease the object serving as the financing collateral to another party without the approval of the financing company. Failure to meet these obligations may result in collection efforts and settlement steps in accordance with applicable laws and agreements. Therefore, the public needs to ensure their ability to pay before applying for financing and maintain their commitment to fulfil all obligations during the financing period.