OJK: Financial Institutions Yet to Protect Customers' Data  

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  • TEMPO.CO, Jakarta - Sri Rahayu Widodo, deputy commissioner for Consumer Education and Protection at the Financial Service Authority (OJK), said not all financial institutions have applied consumer protection regulation.

    “Those who are more prepared are companies involved in stiff competition and have wider market,” Sri said on Saturday.

    According to Sri, general banks were relatively more prepared to implement the regulation. This was not true for financial institutions with limited market because they are not ready to conduct consumer protection education and monitoring.

    Chairman of the Indonesian General Insurance Association (AAUI), Fauzi Darwis admitted that some insurance companies were still offering their products via text messages or telephone, although it had been less frequent than before.

    “For us, what’s more important is to meet customers face-to-face,” Fauzi told Tempo.