Deposit Insurance Agency (LPS) plans to draft a regulation that will protect public funds placed in online or e-commerce platforms, given the rise of the online transactions. Halim Alamsyah, LPS Head, said the e-commerce transactions in Indonesia in 2017 reached Rp34.5 trillion, surged from around Rp12-13 trillion in 2016. At present, LPS only guarantees public funds placed in the banking sector up to a value of Rp2 billion. The rise of the digital era, a significant amount of public funds are placed on e-commerce platforms.
