The Facial Verification Technology (FVT) plays a crucial role in Electronic Know Your Customer (E-KYC) processes, improving security and operational efficiency by remotely confirming individuals' identities through several online authentication steps by utilizing users' data registered in population databases. The purpose of FVT itself is to reduce the risks of identity theft and fraud. Recently, the Financial Services Authority (OJK) issued OJK Reg. 3/2024 focusing on the Implementation of Financial Sector Technology Innovations. This regulation outlines the licensing procedure for FVT organizers, aligning with MoHA Reg. 102/2019, which addresses access rights for using population data. Moreover, the implementation of FVT must comply with data protection regulations, in particular, Law 27/2022 and OJK Reg. 3/2024. Find out more about our insights on this topic in our Legal Brief publication.
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