Guidelines for Internal and External Audits of Commercial Banks Single Customer View Data Quality and Data Processing System Reliability Introduced

The Deposit Insurance Corporation (Lembaga Penjamin Simpanan – “LPS”), through the issuance of Regulation No. 5 of 2019 on the Reporting of Customer-Based Deposit Guarantees for Commercial Banks and its Amendment (collectively referred to as “Regulation 5/2019”), previously mandated that commercial banks (“Banks”) should conducted annual inspections of the quality of their data and the reliability of any systems (“Inspections”) that are utilized during the processing and storage of any Single Customer View (“SCV”) data (“SCV Data”).[1]