Guidelines for Internal and External Audits of Commercial Banks Single Customer View Data Quality and Data Processing System Reliability Introduced

The Deposit Insurance Corporation (Lembaga Penjamin Simpanan– “ LPS ”), through the issuance of Regulation No. 5 of 2019 on the Reporting of Customer-Based Deposit Guarantees for Commercial Banks and its Amendment (collectively referred to as “ Regulation 5/2019 ”), previously mandated that commercial banks (“ Banks ”) should conducted annual inspections of the quality of their data and the reliability of any systems (“ Inspection s ”) that are utilized during the processing and storage of any Single Customer View (“ SCV ”) data (“ SCV Data ”). [1]