OJK Prepares to Introduce SIPELAKU as Preventive Measure in Fight Against Fraud Within the Financial Services Sector

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) is currently preparing a Draft Regulation (“Draft Regulation”) on the Financial Services Actors Information System (Sistem Informasi Pelaku di Sektor Jasa Keuangan – “SIPELAKU”)[1] which, if it is ultimately enforced, will serve as a framework for the organization of an information system that will make the track records of individuals or legal entities that have relationships with financial services institutions (Lembaga Jasa Keuangan – “LJK”) accessible to consumers, employees or other parties (“Actors”).[2]