- RupiahPlus, a financial technology (“Fintech”) lending company, is currently in the public spotlight as a result of its questionable methods of debt collection. It has been alleged that the company operates a policy of contacting third parties and acquaintances of debtors by accessing debtors’ cell phone contacts and by using threats, intimidation and bullying tactics.
- According to a prominent legal expert in consumer protection, no third party can be forced by creditors to pay debtors’ debts. Third parties can only be asked for information or confirmation relating to a debtor’s profile prior to the approval of a given loan.
- Furthermore, the head of the Indonesian Consumer Institute Foundation is demanding that the relevant authorized institutions legally process any Fintech companies who abuse private consumer data and educate consumers on prudential principles which involve private data.
- The OJK is also requesting that the Fintech Association establish a common digital data center mechanism which should contain data relating to problematic debtors. This data can then subsequently be used by financial services companies in order to evaluate the credit ratings of individuals, while the digital data center itself can also certify employees of associate member
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