The Financial Services Authority (OJK) has tightened the rules for peer-to-peer (P2P) lending. This step is to prevent P2P lending from becoming a place for money laundering and terrorism financing. In this regard, the OJK issued Circular Letter (SE) Number 6 / SEOJK.05 / 2021 concerning Guidelines for the Implementation of the Anti-Money Laundering and Prevention of Terrorism Funding Program for Information Technology-Based Borrowing and Lending Service Providers.
Quoting OJK's statement, Monday (8/2/2021), this regulation was signed by the Chief Executive of Non-Bank Industry Supervisor, Riswinandi and will take effect from January 29, 2021. The 108-page SE contains at least some key points. First, regarding the implementation of the APU UPPT program and the prevention of funding for the proliferation of risk-based weapons of mass destruction, which consists of:
• Application of the program
• Obligation to implement the program
• Risk concept
• A risk-based cycle approach
• A risk-based approach
In addition, it also contains active supervision of the board of directors and board of commissioners, explaining the obligations, mechanisms and procedures for supervision carried out by the board of directors and commissioners. Then, other regulated matters, namely regarding policies and procedures, which at least include:
• Identification and verification of potential customers or customers
• Beneficiary identification and verification
• Termination of business relationship or transaction rejection
• Risk management
• Maintenance of data
• Updating and monitoring
Reporting to senior officials, directors and board of commissioners, as well as reporting to PPATK
Furthermore, regarding internal control, it explains the internal control procedures that must be implemented and internalized in the organizer's business process. There is also a management information system, explaining the obligation to have a management information system for Operators. As well, human resources and training, explaining the human resources of the organizers and the obligation to organize training on AML-CFT program policies and procedures
In addition, reporting describes the mechanism for reporting the implementation of the AML-CFT program to OJK and PPATK. The Financial Services Authority (OJK) projects that national economic growth in 2021 will be at 4.5 to 5.5 percent. To achieve this, OJK will synergize policies to maintain financial sector stability with the government and Bank Indonesia.
The Chairman of OJK, Wimboh Santoso, said that his party had done various things. One of them is to accelerate economic growth, among others, by continuing to restructure credit until March 2022."Entrepreneurs who have been affected by Covid-19 can be restructured again. We ask that the restructuring carried out, which is repeated, should not be subject to additional costs that are not like normal conditions," explained Wimboh in the IKA UNS Series XLIII series virtually at Saturday night (6/2/2021). In addition, said Wimboh, OJK will provide facilities for motor vehicle, car and home loans. The reason is, the economic driver after people work later needs these three things. "We do these decreases with the RWA weight or lower risk calculations," he said.
To support the national economic recovery program, OJK will also facilitate credit for the health sector. This is because the health sector requires a large space in the next few years due to the impact of Covid-19. "Many ICUs are full, please expand this as soon as possible and we will encourage, accelerate and facilitate access to finance," continued Wimboh.
