The Urgency of Law Renewal Regarding the Protection of Consumer Personal Data in Financial Technology Companies That Abuse Consumer Personal Data Protection

Abstract

The use of Financial Technology based on Peer to Peer Lending in information technology-based lending andborrowing services in Indonesia has always increased, especially since the Covid-19 pandemic. In the use ofFinancial Technology based on Peer to Peer Lending, consumers must provide personal data including alldata, information, information and documents, both electronic and non-electronic and emergency telephonenumbers. Unfortunately, there are cases of misuse of personal data, namely if consumers have not paid off theloan, the Financial Technology Company threatens to disseminate photos and personal data of the borrowerif they do not pay off the loan immediately. One of the factors that influence the misuse of personal datais the absence of facilities and regulations that comprehensively regulate the protection of personal datain Indonesia. The purpose of this study is to analyze of legal protection against consumer personal data inFinancial Technology companies. This research uses a normative juridical approach that uses data obtainedthrough library materials. The results of the study indicate that there is a need for legal reform regarding theprotection of personal data in Indonesia by issuing regulations at the level of the Act, although there are severalregulations governing the protection of personal data electronically, but these regulations do not provide firmcertainty on the protection of personal data.