Abstract
Today, business transactions no longer have to be carried out face to face, instead through virtual or in a virtual world that is connected globally. One of the economic activities that affect the public interest is the activity of channeling funds which must be carried out fairly and in accordance with Article 33 paragraph (4) of the 1945 Constitution, namely the economy. Financing Institutions have undergone a process of digitization, plus during the Covid-19 pandemic experienced a high surge in business capital needs so that financing transactions can be easily accessed online, financial technology (fintech) services are regulated in OJK Regulation No.77 / POJK.01 / 2016 concerning Borrowing Services Information Technology-Based Borrowing If the provider of Information Technology-Based Borrowing and Lending Services has been proven to have committed a violation, it may result in imposing sanctions on the agreement. The purpose of this research is to contribute from a conceptual perspective of business law in fulfilling economic recovery and to find out about sanctions arrangements for Fintech service providers in order to achieve legal certainty. The research method used is through normative law and conceptually socio legal. The results of this research analysis are expected that business people want to invest in a company with a fast process, so the need for Fintech services is to be able to transform in a Legal Due Diligence so that the economic recovery of a new national era is held based on economic democracy using the principles of togetherness, justice, sustainability, environmental awareness, independence. Legal Due Deligence is able to be a solution to minimize potential risks in the future. So that it will get benefits for finctech organizers and the public who use services as a result of the positive influence due to the Legal Due Deligence business concept.
Highlights
The development of the internet, which is quite rapid and widespread, requires technology and information to continue providing innovation to the community
The development of Financial Technology (Fintech) in Indonesia remains under the supervision of Bank Indonesia (BI) as the central bank
The Financial Transaction Reports and Analysis Center is an independent institution responsible for the President of the Republic of Indonesia, which was established in order to fulfill Article 16 of The Forty Recommendations made by the Financial Action Task Force On Money Laundering (FATF)
Summary
The development of the internet, which is quite rapid and widespread, requires technology and information to continue providing innovation to the community. Jurnal Hukum, Humaniora, Masyarakat dan Budaya Vol.1(No.2) 2021, 93-98. Business development is the one that has experienced much improvement. The development of Fintech in Indonesia remains under the supervision of Bank Indonesia (BI) as the central bank. The innovation that develops here is the adaptation of computer network principles applied to the financial sector initially the Peer to Peer financial concept was intended for start-ups (new entrepreneurs) in seeking investors to finance their business. As a form of application of information technology in the financial sector. Fintech has various functions, which are believed to be able to quickly develop rapidly.(Marpi, 2021)
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
