OJK Harmonizes Regulations on Consumer Protection: Concerns over Debt Collection Activities Addressed

In a bid to strengthen consumer and public protection within the financial services sector, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has now harmonized various OJK Regulations that previously addressed these areas through the issuance of Regulation No. 22 of 2023 on Consumer and Public Protection Within the Financial Services Sector (“Regulation 22/2023”).

Regulation 22/2023 has been in force since 22 December 2023, repealing certain articles related to consumer and public protection that were originally set out under the following legal instruments:[1]