Customer Protection Research Articles

Analisis Hukum terhadap Janji Asuransi yang Tidak Realistis: Perlindungan Hukum Bagi Nasabah

Insurance companies often use attractive promises of benefits as a marketing strategy to attract potential customers. However, in some cases, these promises are unrealistic and cannot be fulfilled, which ultimately harms the client. This study aims to analyze the legal aspects that regulate unrealistic insurance promises and their impact on legal protection for customers in Indonesia. This study uses normative juridical methods, this study examines applicable laws and regulations, such as Law Number 8 of 1999 concerning Consumer Protection and Law Number 40 of 2014 concerning Insurance, as well as cases that occur in Indonesia related to unreasonable insurance promises. The results of the study show that despite regulations that protect consumers, the practice of selling insurance that is not transparent still often occurs. The study recommends that insurance companies increase transparency and the government tighten supervision to ensure that customer rights are well protected.

The Effectiveness of P2P Lending Regulation for Customer Protection in Indonesia

This research discusses Peer-to-Peer Lending in Indonesia, with a particular focus on the customer protection. With the rapid digitalization of financial technology in Indonesia, P2P lending platforms gain popularity among the society. However, this raises the concern on how effective Indonesia's regulation is on supervising the industry and protecting its users. A comprehensive analysis on the current regulatory framework established by the Financial Security Authority (OJK) and Indonesian Fintech Lending Association (AFPI). Identifying the gaps and issues that are risking the protection of the customers.

Transformation of Consumer Protection Against Loss of Customer Funds in Digital Banking

Digital banking has become a major trend in the global financial sector, offering ease of access and efficiency for customers. However, this development also brings new risks, particularly related to the loss of funds due to cyber attacks. This research analyzes the legal vacuum in the regulations protecting customers of digital banking in Indonesia, particularly as regulated by POJK No. 12/POJK.03/2021 and POJK No. 13/POJK.03/2021. Despite the existing legal framework, this study identifies the weak legal protection for customers regarding the risk of losing funds due to cyber attacks, as well as the lack of clarity regarding the bank's responsibility in such situations. By examining national and international case studies and providing recommendations for regulatory enhancement and security standards, this study aims to contribute to the ongoing efforts to protect consumers in the increasingly complex context of digital banking.

Upaya Perlindungan Hukum terhadap Nasabah Perbankan melalui Prinsip Kerahasiaan Bank dalam UU No 4 Tahun 2023 tentang Pengembangan dan Penguatan Sektor Keuangan

This paper discusses the principle of bank secrecy as an important instrument in legal protection for customers, as well as its relevance in maintaining public trust in the banking sector in Indonesia. Based on the legal framework stipulated in Law Number 10 of 1998 concerning Banking and Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (PPSK), this study highlights the obligation of banks to protect customer data, including exceptional situations regulated by law. Normative legal research is used to analyze legal principles, laws and regulations, and related literature. The principle of bank secrecy is considered a pillar of customer trust and the main capital in the financial ecosystem. However, challenges arise when this principle conflicts with the interests of law enforcement, such as criminal investigations. The regulations strengthened by the PPSK Law provide a foundation for customer data protection while also regulating administrative and criminal sanctions for violations. On the other hand, the application of this principle also contributes to financial stability by increasing literacy and compliance with regulations. This paper recommends harmonization between the protection of customer privacy rights and the effectiveness of law enforcement to maintain the sustainability of trust in the banking sector.

The Nature of Customer and Bank Protection against Information Technology Based Crime Modes in the Banking Sector

The process of globalization and the rapid development of the financial sector supported by advances in information technology have created a very complex financial system in the banking world. As technology develops, information technology-based banking services such as internet banking and other service supporting technology have become very important. Apart from having a positive impact, information and communication technology (ICT) in the banking sector also creates opportunities for crime to occur (cyber crime). The government has issued regulations to protect customers and banks from criminal acts in the banking sector related to electronic providers, namely in Law Number 1 of 2024 concerning Information and Electronic Transactions. However, the existence of the law in question does not provide legal certainty in the context of protecting customers and banks against technology-based crime modes. This writing examines the mode of information technology-based crime that occurs in the banking sector and the nature of protection for customers and banks in realizing justice. The research method used is a normative legal research type with a statutory approach, conceptual approach and philosophical approach. The findings in this paper are a protection model that includes the bank's responsibility to protect customer data, as well as the involvement of the government and related authorities to prevent and deal with cyber crime with the aim of maintaining public trust and ensuring fairness in banking services.

Gen Z Savings Campaign: Socialization of Legal Protection for Prospective Bank Customers

The number of cyber attacks on the banking industry in Indonesia is increasing every year, making people reluctant to save their money in banks. The Deposit Insurance Corporation (LPS) protects bank customer data and funds based on the applicable system and law. However, not many people know about the presence of LPS, so outreach and education about legal protection for bank customers is crucial before they have a bank account. High school students who are Generation Z are the right prospective bank customers to carry out outreach and education regarding legal protection for bank customers. Socialization and education were conducted at SMA Negeri 26 Jakarta, where 96 class XI students participated. The normalization gain method measures the effectiveness of socialization and education. The N-Gain test results were obtained at 77.39% using the pre-test and post-test values. These results prove that there has been an increase in students' knowledge about the legal protection of bank customer data and funds. Prospective and bank customers should not have to worry about their money stored in the bank because public funds will remain protected if a cyber attack occurs.

Hukum Perlindungan Konsumen dalam Produk Perbankan Digital

Based on the provisions in Law no. 7 of 1992 in conjunction with Law no. 10 of 1998 concerning Banking, commercial banks provide services such as transferring money according to the type of bank category. Along with the rapid development of technology and science in the era of globalization, the banking sector is also required to adapt to improve services to customers. Fintech, or financial technology, is designed to make financial services easier for people. However, potential threats remain and require preventive measures. This article reviews in depth legal protection for customers in digital financial transactions. This research uses a normative legal method with a literature study approach as a way of collecting data. The results of the descriptive analysis show regulations related to legal protection for customers in digital financial transactions with platforms such as DANA, as well as the role of LPS in maintaining the security of customer funds.

IMPACT OF OECD MEMBERSHIP ON ROMANIA'S FINANCIAL SERVICES AND CORPORATE GOVERNANCE

significant influence would be the one on the financial services and corporate governance of the companies. Romania will see an increased market efficiency, more foreign investment, and greater customer protection in the key sectors including non-banking financial sectors. Therefore, with OECD membership, a more predictable economic environment would eventually render Romania an attractive destination for investment. Reciprocally, it will help in economic growth, reduced market volatility, and trust in the corporate sector. In short, higher standards of corporate governance and financial services will have Romania stand in a better position in the global chain and integrate into global markets in a much better way, thereby increasing its economic resilience. Romania already confirmed several times the attachment to the set of values and principles of the OECD. Romania also promotes its profile as a candidate involved in the debates at the OECD level but also active in the projects developed and implemented by the OECD through the added value it can bring to the Organization at the regional level.

LEGAL PROTECTION FOR DIGITAL BANK CUSTOMERS IN INDONESIA: ANALYSIS OF DATA CONFIDENTIALITY REGULATIONS AND BANK RESPONSIBILITY

Digital bank users in Indonesia are currently so numerous that legal regulations are needed for their users. Writing This will examine the form of legal protection for digital bank customers in Indonesia. The method used in this case is the Normative Juridical Research Method, using library data supported by applicable laws and regulations. The study results indicate that the rules and regulations for protecting the confidentiality of bank customer data in Indonesia are not absolute, and are not subject to one regulation. Still, several regulations are interrelated. The form of legal protection for digital bank customers related to the confidentiality of customer personal data currently does not provide comprehensive legal protection and certainty because the responsibility, both criminal and administrative, is only given to the bank for misuse of data confidentiality. In contrast, the responsibility for material losses by customers has not been explicitly regulated. Only subject to and bound by the agreement or deal made between the bank and the customer and still requires other efforts in the form of a lawsuit in court. The concept of protecting customer data confidentiality in digital banks can be done responsively, namely by connecting several relevant regulations to provide a sense of justice for customers if customer rights are not protected by banking regulations.

Development Strategy for Culture-Based Tourism Infrastructure on Serangan Island

This research analyzes the strategy for developing culture-based tourism destinations on Serangan Island. The method used was interviews with a purposive sampling approach to determine key informants. The research results show that the culture-based tourism destinations on Serangan Island are Sakenen Temple, As-Syuhada Mosque, Fisherman’s Village, Marine Tourism, and Turtle Breeding. Then, it was analyzed using SWOT analysis, where the results were that the Serangan Island tourism destination had a strong internal and external position because it could maintain its existing culture. An alternative strategy that can be implemented according to the current conditions of tourism destinations is the S-O strategy, meaning that the management of tourism destinations on Serangan Island can use its strengths to attract tourists. This study concludes that Serangan Island has cultural-based tourism destinations: Sakenan Temple, Asy-Syuhada Mosque, Fisherman’s Village, Turtle Conservation, and Marine Tourism. In addition, a SWOT analysis is needed to determine internal development strategies (strengths and weaknesses) and external development strategies (opportunities and challenges). Support is needed from the government and the private sector to facilitate, market, and support the surrounding community. Prohibition signs are needed to prevent environmental damage and pollution. Protection of customs, traditions, and arts and culture of the Serangan community through regional or village regulations. Better transportation access, such as piers, small bridges, or local transportation, supports visitor accessibility and comfort. Strengthening the marketing of Serangan Island as a cultural destination through social media and digital tourism platforms.

Development of innovationin the Polish banking sector

The rapidly developing market for new technologies is driving the introduction of innovative solutions in the banking sector. As a public trust sector, they are subject to numerous regulations. Supervisors and central banks are trying to support the develop- ment of new technologies in the sector by reducing regulatory uncertainty and support programs aimed at FinTech (Financial Technologies) companies. The purpose of the study is to analyse existing regulations and regulators’ initiatives on new technologies in the banking sector. The author seeks to answer the research question of whether the introduced regulations support or limit the digital transformation of the banking sector in Poland. An im- portant aspect in the sector is customer security, so regulations should focus on protecting the banking customer and ensuring the stability of the sector. They are analysed by regulators so that the relevant regulations enable the introduction of innovative yet safe solutions. The author points out possible synergies resulting from cooperation between banks and FinTech companies. In conclusion, dialogue between banking sector institutions, regulators, central banks and banks leads to the creation of an environment that allows the introduction of innovative solutions while maintaining customer protection and banking sector stability.

Hukum Islam pada Imple¬mentasi Manajemen Risiko Penyelesaian Pembiayaan Bermasalah Bank Syariah Indonesia (BSI)

Islamic banking continues to develop, particularly in product diversification, offering a wider variety of options that have positively impacted the public's willingness to conduct muamalah activities through Islamic banks. Various financing products provide customers with the convenience of selecting options that suit their needs. The object of this research, as explained by Husein Umar in Setiawan Santana, focuses on problematic financing, a condition where significant deviations occur in repayments, leading to delays or potential losses. Problematic financing represents a situation where loan repayment agreements face the risk of failure and tend to lead to potential losses. This study offers new insights by examining the role of Islamic law in managing problematic financing risk at Bank Syariah Indonesia (BSI). The novelty of the research lies in the further exploration of using Islamic contracts (akad) as the main foundation in regulating and resolving problematic financing. Through this approach, the research provides a fresh perspective on how Islamic banks can more effectively manage financing risks while adhering to Sharia principles. The impact of this research on Islamic banking is quite significant. The application of risk management based on Islamic law is expected to enhance public trust in Islamic banking and strengthen its stability in Indonesia. The use of akad as the legal basis in resolving problematic financing ensures transparency and fairness in line with Sharia principles. This provides protection for both customers and the bank, creating a stronger foundation for the sustainability of Islamic banking in the future.

Customer Insight to Digitalisation and Open-Banking in Nigeria

The business world is experiencing rapid technological integrations. Several innovations have contributed to the success of businesses as the customer continues to play a strategic role in innovation’s acceptance or rejection. Open banking is a disruptive innovation that represents a departure from the traditions in emerging markets where financial inclusion has been focused on the consumer. It is rapidly being adopted in developed economies with developing economies such as Nigeria and India making incursions in adopting the innovation. Its ability to impact the business environment and improve access to financial services depends on customers’ consented data thereby making customers significant to its success. The challenge is on rising data privacy violation and data leakage. The purpose of the study is to examine the determinants of the success of open banking in Nigeria from customers’ perspective. The study is a novel study in Nigeria following the focus of extant studies on application and challenges of the innovation. Cross-sectional survey, case study analysis and close-ended questionnaire were adopted in the study while structural equation modeling was employed in analysing the data. The findings revealed that customers consent to open banking is positively influenced by the direct effects of compatibility and customers’ perception of security and trust. Also, the success of the innovation is impacted by the negative link between perceived access, perceived risk and customers consent to open banking. The significant result of the indirect relationships also justifies the importance of these variables in ensuring the success of open banking in Nigeria. With this, emphasis is on strategic management and policy drives that ensure effectiveness and protection of customers.

Customs Protection of Domestic Industry in the Works and Politics of N.H. Bunge

Customs Protection of Domestic Industry in the Works and Politics of N.H. Bunge

Pengaruh Likuidasi Bank Terhadap Perlindungan Para Nasabah (Studi Kasus BPR Legian Denpasar)

Financial institutions, one of which is a bank or a place to store funds for the community. Banking institutions have a very important role in people's lives, but it does not rule out the possibility that banks can commit several violations that could result in losses for customers. In this case, there are various forms of violations such as misuse of customer funds, as is the case with the Denpasar regional bank, specifically in the Legian area. The bank is called Legian People's Credit Bank (BPR). Because BPR Legian did not reach the Capital Adequacy Ratio (CAR) because BPR Legian had used customer money for extravagance. The purpose of this writing is to find out the meaning of bank liquidation, the legal basis for liquidated banks, the consequences of revoking a bank's business license, protection of BPR Legian customers, and also to analyze cases that occurred at the Legian People's Credit Bank, Denpasar. This research uses a normative method with a case study approach, and is supplemented by using secondary legal materials with primary materials as the main source in this research in the form of Law Number 24 of 2004 concerning the Deposit Insurance Corporation, and secondary materials including legal journals and several literatures. related to this research. BPR Legian was liquidated due to poor debt management which had experienced extreme leverage or a situation where the amount of debt was above the assets of the company or bank.

Legal Protection for Customers in Murabaha Financing Whose Land Ownership Object is Not on Behalf of Sharia Banks to Fulfill Sharia Compliance

Murabaha financing is one of Sharia banks financing that uses a sale and purchase agreement with a counter-performance in the form of a margin determined in accordance with an agreement between the bank and the customer. The difference between Murabaha contract and credit at a conventional bank is that, in a Murabaha contract, Sharia banks purchase the object (house or land) that the customer wants in advance. Then, the banks sell the house to the customer by informing the amount of the price that has been added with a margin. In practice, not all Sharia banks provide Murabaha financing using this procedure. Therefore, this study aimed to, first, explain the practice of Murabaha financing whose ownership object is not on behalf of Sharia banks in terms of legal protection for customers, and second, find the practice of Murabaha financing whose ownership object is not on behalf of Sharia banks in terms of fulfilling Sharia compliance. The method used is a normative juridical approach with descriptive-analytical research specifications. The data used secondary data, which was collected through library research, and then analyzed by qualitative analysis through legal interpretation methods. The results showed that, first, in terms of legal protection for customers, the practice of this Murabaha financing was not in accordance with internal and external legal protection, and second, in terms of fulfilling Sharia compliance, the practice of this Murabaha financing contained elements of gharar (unclear object) and dzalim (causing injustice). Keywords: protection, customers, financing, Murabaha, Sharia compliance

A legal approach to the protection of customers of banks and other financial institutions from identity theft in Nigeria

A legal approach to the protection of customers of banks and other financial institutions from identity theft in Nigeria

Analysis Of The Responsibility Of Insurance Companies Declared Bankrupt For Customer Claims In The Perspective Of Indonesian Positive Law

Insurance for human life is very important, by requiring a sense of comfort and safety. So that many companies have established their business in the field of insurance, behind insurance companies that provide security protection. Not all companies run smoothly in other words the company is inseparable from the threat of bankruptcy. This research focuses on legal certainty for customers when an insurance company with claim obligations is declared bankrupt. The research problem addresses the challenges faced by customers in such situations and the legal protection available to them. The purpose of this research is to find out the responsibility of insurance companies that are declared bankrupt in fulfilling customer claims and to find out the legal certainty for customers in cases when insurance companies that have claims obligations are declared bankrupt. The methodology used is normative juridical, by analyzing the law based on literature study, articles in the Civil Code, Law Number 21 of 2011 concerning OJK, Law Number 37 of 2004 concerning Bankruptcy and postponement of debt payment obligations, and Insurance Law. The results discuss the importance of legal protection provided by the Financial Services Authority and the Deposit Insurance Corporation for insurance customers in bankruptcy cases. The findings underscore the need for compliance with certain legal provisions to ensure customer protection, especially in cases involving insolvent insurance companies. The implications of this study emphasize the importance of legal certainty and the role of regulatory bodies in protecting customer rights in the insurance sector.

MICROFINANCE REGULATION IN GHANA:

A well-functioning and regulated financial system is vital for businesses, consumers and the economy. Therefore, regulating microfinance activities is crucial to ensure institutional sustainability and customer protection. We explore the consequences of microfinance regulation in Ghana using the desk review approach to document lessons that could be learnt. Our preliminary findings suggest that there are some learning opportunities. These are regulatory methodology mismatch, mission drift tension, and the collapse of potentially rescuable institutions. Additional lessons include a need for better governance, implementation of complementary laws and inadequate regulatory capacity. The paper offers policy recommendations for future regulatory architecture and design.

Perlindungan Hukum Bagi Para Pihak Terhadap Terjadinya Sistem Error Pada Penyelenggaraan M-Banking

A rapidly developing economy cannot be separated from the support of capital provided through banking credit. However, system errors in the operation of M-banking can cause losses for both customers and banks. This study aims to analyze the legal protection for parties against system errors in M-banking operations and the responsibilities that must be met. The research method used is normative legal research with a statutory approach and conceptual approach. The legal sources used include primary and secondary legal sources, collected through literature study and analyzed using descriptive analytical methods. The results of the study indicate that although there are regulations governing the responsibilities of M-banking service providers, legal protection for customers needs to be strengthened, particularly in terms of dispute resolution mechanisms and compensation. This research recommends enhancing system security and consumer education to minimize risks and the establishment of more specific regulations regarding the responsibilities of M-banking providers in dealing with system errors.