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Selasa, Maret 5, 2024

LPS Urges Financial Services Institutions to Utilize Information Technology to Further Improve Financial Literacy Regarding Personal Data Protection

General Financial Service Technology, Media and Telecomunication

The Executive Director of Legal Matters at the Deposit Insurance Corporation (Lembaga Penjamin Simpanan - "LPS"), Ary Zulfikar ("Executive Director"), has affirmed that the LPS will continue to support the banking industry, as well as rural banks (Bank Perekonomian Rakyat/BPR) and other financial services institutions (Lembaga Jasa Keuangan/LJK) (collectively referred to as "Financial Institutions"), as they work to improve their personal data protection ("PDP") literacy and implement measures across all of their business activities. These improvements should ultimately promote financial inclusion and boost public trust, resulting in the growth of said institutions.
The Executive Director has emphasized that the application of PDP measures is essential, as all individuals are entitled to enjoy protection in relation to their personal data. The Executive Director is therefore encouraging Financial Institutions to utilize available information technologies in order to ensure that PDP measures are adequately implemented. In this regard, sufficient understanding of PDP issues should prove beneficial and should help the relevant parties to anticipate any unlawful usage of personal data (e.g. phishing, hacking, theft of personal data and so forth) that may ultimately result in losses being sustained by both the relevant Financial Institutions and their customers (e.g. reputational risks, legal issues and the imposition of fines).
As such and in order to ultimately boost awareness of PDP-related matters, the Executive Director is urging Financial Institutions to work to improve their financial literacy and to promote inclusivity in ways that utilize personal data through adequate information technologies that are capable of ensuring personal data safeguards. _(ANT)

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The Executive Director of Legal Matters at the Deposit Insurance Corporation (Lembaga Penjamin Simpanan - "LPS"), Ary Zulfikar ("Executive Director"), has affirmed that the LPS will continue to support the banking industry, as well as rural banks (Bank Perekonomian Rakyat/BPR) and other financial services institutions (Lembaga Jasa Keuangan/LJK) (collectively referred to as "Financial Institutions"), as they work to improve their personal data protection ("PDP") literacy and implement measures across all of their business activities. These improvements should ultimately promote financial inclusion and boost public trust, resulting in the growth of said institutions.
The Executive Director has emphasized that the application of PDP measures is essential, as all individuals are entitled to enjoy protection in relation to their personal data. The Executive Director is therefore encouraging Financial Institutions to utilize available information technologies in order to ensure that PDP measures are adequately implemented. In this regard, sufficient understanding of PDP issues should prove beneficial and should help the relevant parties to anticipate any unlawful usage of personal data (e.g. phishing, hacking, theft of personal data and so forth) that may ultimately result in losses being sustained by both the relevant Financial Institutions and their customers (e.g. reputational risks, legal issues and the imposition of fines).
As such and in order to ultimately boost awareness of PDP-related matters, the Executive Director is urging Financial Institutions to work to improve their financial literacy and to promote inclusivity in ways that utilize personal data through adequate information technologies that are capable of ensuring personal data safeguards. _(ANT)

......

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Monthly Law Review (MLR)
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STANDARD

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Indonesian Legal Brief (ILB)
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Bantuan Layanan Pencarian Peraturan
Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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