TEMPO.CO, Jakarta - The Financial Services Authority (OJK) has issued a regulation on fraud control and the application of anti-fraud strategies for insurance and reinsurance companies.
The regulation was stated in an OJK circular letter number 46 of 2017.
Under the regulation, insurance companies are obliged to control fraud, which includes active supervision of the management, monitoring, education, and training.
It also said that the companies are obliged to implemented anti-fraud strategies that include prevention, detection, investigation, reporting, imposing of sanction, monitoring, evaluation and further actions.
The regulation begins to take affect starting 25 August 2017.
FAJAR SIDIK | BISNIS.COM