Financial Technology Application Challenges: Victims of Online Loan Bondage (Peer-to-Peer Lending) Protection

Abstract

Financial technology (fintech) has grown rapidly in Indonesia over the last two years. Unfortunately, this development is not being matched by increased knowledge among businesspeople and the general public about the hazards of criminal conduct. Because all human daily activities rely on internet technology, criminal acts utilising technology are critical to be aware of. In addition to providing benefits to society, the use of internet technology has the potential to be abused to commit crimes, both ordinary and specifically targeting information and communication technology infrastructure, with negative consequences that can cause the social order system to collapse, paralyse the country's economy, weaken the defence system, and be used as a terror tool. In reality, according to numerous sources, Indonesia ranks second in the world for internet technology crime attacks and is regarded as the country most vulnerable to information technology security breaches.