Abstract
Research in this article was funded By Research And Community Service Directorate ( Direktorat Riset Dan Pengabdian Masyarakat ), Deputy For Research and Development Reinforcement , Ministry Of Research And Technology /National Reseacrh And Inovation Agency, Republic Of Indonesia, Fiscal Year of 2020. Abstract A financial institution that provides technology-based money lending services or financial technology peer to peer lending (fintech P2P lending) is expected to be a solution for people in Indonesia who are unable to access conventional banking services. However, in line with the developments, there are also a presence of legal problems relating to the growing number of illegal fintech P2P lending companies which are harmful to the people who use these financial institutions. This article is the result of research related to the legal protection of Fintech P2P Lending customers in Indonesia. This study applied the normative legal research method with the theory of legal protection as the analysis theory. The approaches used were the statute approach and the conceptual approach. The result of the study showed that legal protection for fintech P2P lending customers has been sufficiently regulated, but the regulation is still partial and spread out in various laws and regulations. In the future, comprehensive regulations related to the legal protection of fintech P2P lending customers are urgently needed. Keywords : legal protection, consumers protection, fintech P2P lending. DOI: 10.7176/JLPG/102-08 Publication date: October 31 st 2020
Highlights
The development of information technology in recent years has encouraged the increase of digital-based industries
The practice of illegal fintech P2P lending is still rampant in almost all parts of Indonesia
If we explore the basic concept of legal protection, it can be seen from the point of view of Philipus M
Summary
The development of information technology in recent years has encouraged the increase of digital-based industries. On the other hand, there were quite a lot of fintech P2P lending companies that operate illegally. The practice of illegal fintech P2P lending is still rampant in almost all parts of Indonesia. This is clearly very detrimental to people. There are several reports related to fintech P2P lending, including from the Indonesian Surabaya Legal Aid Institute which has reported 408 illegal fintech P2P lending companies. Most of the reported fintech P2P lending institutions are not registered in the FSA. Data from the Jakarta Legal Aid Institute has received 1,330 complaints about digital-based financial services. For this reason, this article will study the legal protection arrangements for fintech P2P Lending customers in Indonesia. The concept of legal protection and legal protection for fintech P2P lending customers will be studied
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