TEMPO.CO, Jakarta - The Financial Services Authority (OJK) Financial Technology Permit and Supervision Affairs director, Hendrikus Passagi, said the agency would soon release a circular letter in light of financial technology or fintech application. The letter would later stipulate new regulations on fintech business.

“Thus, fintech companies will have a legal corridor,” said Hendrikus in a discussion @tempo in Balai Kartini, Friday, November 23.

Hendrikus explained the letter would describe standards of fintech companies and third parties as the collector to prevent bad issues in the future.

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According to Hendrikus, a third party or a collector of online lending are required to be verified and certified. “We will monitor steps that the collector do, as well as the language,” he noted.

Earlier, the OJK spokesperson Sekar Putih Djarot mentioned criteria of the illegal online lending firm since many people file complaints to Legal Aid Institute.

“Illegal fintech lending firm always tries to avoid the registration in OJK because they initially do not want transparency and even hide the owner’s identity and management as well as the office addresses in Indonesia,” Sekar said.

Sekar explained issues on illegal online lending were monitored by the Investment Awareness Task Force which comprised of more than 13 ministries and institutions, including police, prosecutors, and judiciary. “The task force is assigned to take repressive acts and arrest illegal fintech lending firms.”

CHITRA PARAMAESTI