Bank Indonesia is drafting a regulation that would establish a minimum age and income for credit cardholders and limit how many cards someone may hold, confirms a spokesperson for the country’s central bank.
The central bank also under the proposed new rules would ask banks to conduct periodic evaluations of their credit cardholders, including verifying personal data, Muliaman Hadad, Bank Indonesia deputy governor, told local media.
The central bank also would require banks to send activity alerts to their cardholders, regardless of the value of the transaction, Hadad reportedly said.
The central bank already has asked banks to improve their customer service and to provide more information to help card clients avoid fraud, he said. This includes educating their cardholders with information on how to maintain card security and to set up an early-warning system that warns of any fraudulent activity.
The spokesperson would not disclose a timeline on when the regulations might be introduced and implemented.
Indonesians experienced 18,122 cases of credit card fraud in 2010 that generated total losses of 55.2 billion rupiah (US$6.5 million or 4.4 million euros), according to central bank data.
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