Abstract

AbstractThis study seeks to examine the role of the Financial Services Authority and its efforts in overcoming public problems in the form of fintech lending or online loans in the era of the COVID-19 pandemic through the application of the e-commerce concept. The increase in the use of e-commerce makes online loans also increase during the covid-19 pandemic. Based on the Financial Services Authority Regulation Number 77/POJK.01/2016 and the Financial Services Authority Regulation Number 13/POJK.02/2018 it becomes a legal reference in the implementation of financial service activities carried out by providers fintech lending. The state institution authorized to overcome the above problems is a state institution in the form of the Financial Services Authority together with the Ministry that is authorized and involved in its implementation. This study uses a descriptive qualitative approach by analyzing reports based on reports from financial service authority institutions related to online loans, both legal and non-legal. This approach is used to see the government's efforts in dealing with problems related to legal and illegal online-based money loans in Indonesia. The research data that will be used are secondary data obtained through books, scientific journals, social media, official government websites, and news portals. The results of the study show that currently illegal online loans have a higher graph than legal online loans, the government's efforts to reduce illegal online loans are by blocking the sites used. However, technology is so sophisticated that it is difficult for the government to eradicate these crimes. Another effort made by the government is asking the public to be more vigilant and careful before making transactions using online loan services by finding out in advance whether the site already has a permit in managing the online loan site.KeywordsE-commerceOnline loansIllegalCovid-19Indonesia

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