Juridical Reviewcyber Law On Developmentfintech In Indonesia

Abstract

Objective: Technological developments in the digital era are something that cannot be avoided. These significant changes have occurred in the financial industry throughout the world, including in Indonesia. Financial technology or in another language equivalent is financial technology (Fintech) as a result of exposure to technology is a new thing in Indonesia that continues to develop rapidly. This is because financial technology makes it easier for people to carry out transactions safely and more efficiently. In connection with these benefits, there are also other negative things, one of which is related to cybercrime (cyberlaw). Methods: By using normative juridical methods with secondary sources, this paper concludes that the government does not yet have a separate law related to financial technology regulations, but the substance regarding technological developments can be found scattered in other regulations and an approach to introducing cyber law is needed. towards business people and the wider community so as to create a legal function, namely as legal certainty and justice. Results: This development is accompanied by the development of the world of crime in the world of technology, namely cybercrime. This crime is a transnational crime and requires a more comprehensive approach to tackling this crime. In positive law, regulations related to cybercrime are regulated in Law No. 19 of 2016 concerning Amendments to Law No. 11 of 2008 concerning Information and Electronics and updated in Law No. 1 of 2023 concerning the Criminal Code. However, the provisions regarding cybercrime in this law are not accommodated holistically. Suggestions: It is necessary to create a separate law regarding fintech which regulates cybercrime. It is necessary to regulate consumer protection accompanied by criminal sanctions whose elements regulate from upstream to downstream related to financial technology. Regulations at the statutory level provide legal certainty because in theory the hierarchy of statutory regulations has a higher status than regulations regarding fintech which are only regulated at the institutional regulatory level. Regulations at the statutory level also avoid overlapping regulations between state institutions, thereby creating legal certainty for fintech business actors.