OJK Merges Provisions on Risk Management During the Use of Information Technology by Non-Bank Financial Services Institutions

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has issued Regulation of the OJK No. 4/POJK.05/2021 on the Application of Risk Management During the Use of Information Technology by Non-Bank Financial Services Institutions (“Regulation 4/2021”), which integrates various regulations that address information technology risk management by non-bank financial services institutions (lembaga jasa keuangan nonbank – “LJKNB”) and which is also seeking to mitigate any risk which may result from the utilization of information technology.[1]