by Setyawati Fitrianggraeni , Sri Purnama and Jericho Xavier
Indonesia’s digital field is changing. New e-commerce rules and ethical AI in Fintech are coming. The Information and Electronic Transactions (IET) Law is changing too. These changes are important for businesses and people. We will look at three regulatory areas in 2024. This will help you keep up with the fast-paced digital world
1. E-Commerce Regulations
Indonesia’s Ministry of Trade has enacted Regulation No. 31 of 2023 (MoTR 31/2023), superseding Regulation No. 50 of 2020. This new regulation addresses business licensing, advertisement development, and supervision of business actors in electronic systems trading. E-commerce operators and merchants must swiftly adapt their practices to comply with MoTR 31/2023’s requirements.
2. AI in Fintech
On 24 November 2023, Indonesia’s Financial Services Authority (OJK), in partnership with several other organizations, launched its code-of-ethics guidelines to work towards responsible and trustworthy artificial intelligence within the Fintech sector. These guidelines require Fintech companies to adopt ethical, fair, transparent, accountable, robust, and secure AI practices.
3. Second Amendment to the Information and Electronic Transactions (IET) Law
The legal landscape in Indonesia has undergone a significant transformation with the enactment of the Second Amendment of the IET Law, officiated as Law Number 1 of 2024 (“IET Law 1/2024”). This amendment, signed into law by President Joko Widodo on January 2, 2024, marks a shift in the regulatory framework governing electronic information and transactions. It revises and supersedes provisions from the initial Law Number 11 of 2008 and its subsequent amendment, Law Number 19 of 2016.
Notably, the amendment addresses critical areas such as defamation, personal threats, online child protection, and the abolition of foreign electronic certification providers. Furthermore, it introduces stringent measures against the dissemination of false information, incorporating clauses that can impact the usage of social media accounts and other digital assets.
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Anggraeni and Partners, an Indonesian law practice with a worldwide vision, provides comprehensive legal solutions using forward-thinking strategies. We help clients manage legal risk and resolve disputes on admiralty and maritime law, complicated energy and commercial issues, arbitration and litigation, tortious claims handling, and cyber tech law.
Junior Legal Research Analyst
Jericho Xafier Ralf
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