Indonesia

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    AML / KYC

    Indonesia Captures Former Philippine Mayor Charged for Money Laundering

    By Editors | 05/09/2024

    The former mayor Alice Guo fled the Philippines in July after she was accused of helping to set up an illegal online gambling and scam centre.

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    Capital / Liquidity

    OJK Indonesia Requiring Banks to Disclose Details on Loan Rates

    By Nithya Subramanian | 04/09/2024

    Effective from October 2024, the new rules aim to enhance transparency, boost competition, and protect borrowers from excessive fees.

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    AML / KYC

    Indonesia Blocks Online Gamblers from Accessing Financial Services

    By Nithya Subramanian | 03/09/2024

    Over 6,000 accounts have been blocked to prevent online gamblers from accessing financial services and “create a deterrent effect”.

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    Enforcement

    Indonesia: IDX Dismisses Five Employees for IPO-related Bribery

    By Nithya Subramanian | 03/09/2024

    The OJK said it supports the “firm steps” taken by IDX in imposing sanctions on the violating parties.

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    Indonesia, Korea Set to Implement Local Currency Framework

    By Editors | 02/09/2024

    14 Indonesian and 7 Korean banks have been appointed to handle transactions between the two countries using local currencies.

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    Fintech / Regtech

    OJK Indonesia Launches Digital Resilience Guide for Banks

    By Nithya Subramanian | 26/08/2024

    The guide addresses key aspects of business continuity, disruption management, and consumer protection in the evolving digital landscape.

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    Securities / Derivatives

    Indonesia to Establish Money Market CCP by End of Year

    By Editors | 19/08/2024

    Bank Indonesia and eight banks will invest in and help develop the CCP, which will be housed under IDClear, the CCP for the country’s capital market.

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    AML / KYC

    OJK Indonesia Issues Regulation to Implement Anti-Fraud Strategy

    By Manesh Samtani | 17/08/2024

    Fraud detection systems must include whistleblowing policies and mechanisms, surprise audits, monitoring, and risk assessments of internal and external parties.

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    OJK, HKMA Sign MOU to Expand Cooperation in Banking Supervision

    By Editors | 16/08/2024

    Indonesia’s OJK said it hopes to establish a supervisory college with the HKMA and enhance staff capacities at both regulators.

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    OJK Indonesia Adds New Entity Types to Credit Score Database

    By Nithya Subramanian | 13/08/2024

    The OJK said debtor-related information will become more comprehensive with the inclusion of insurers, guarantee companies and P2P lenders.

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