scholarly journals Legal Protection for Problem Debtor Related to the Use of the Artificial Intelligence System in Peer to Peer Lending

Yuridika ◽  
2020 ◽  
Vol 35 (3) ◽  
pp. 657
Author(s):  
Yusuf Arif Utomo
Keyword(s):  
Artificial Intelligence ◽  
Financial Services ◽  
Service Providers ◽  
Personal Data ◽  
Legal Protection ◽  
Electronic System ◽  
Peer To Peer ◽  
Conceptual Approach ◽  
Legal Provisions ◽  
P2p Lending

In the era of digital economic development, the community continues to innovate in terms of providing lending and borrowing services. One form of development of Financial Technology (fintech) is the distribution of funds through the Peer to Peer (P2P) Lending system. Where this system has more or less the same role as banks, namely as an organizer; from parties who have funds (investors) to those who need funds (debtors) whose methods are carried out online. The distribution of funds through the P2P Lending system has developed rapidly in Indonesia. In carrying out its business, the loan and loan service provider uses an electronic system that is a series of electronic devices and procedures that function to disseminate information in the field of financial services. The electronic system can also be referred to as Artificial Intelligence (AI). By using AI, loan and loan service providers can find out all the debtor's personal data, where in the end the debtor becomes disadvantaged because his personal rights are violated. On the other hand there are no legal provisions in Indonesia that can protect debtors in this regard. So that in this study later will discuss about the extent of legal arrangements related to the protection of debtors in the P2P Lending system using AI. This research uses the statute approach method; namely the approach through legislation and conceptual approach, namely the legal approach through the concepts and opinions of legal experts.

scholarly journals Perlindungan Konsumen dari Penyebarluasan Data Pribadi oleh Pihak Ketiga: Kasus Fintech Peer”To Peer Lending”

2020 ◽  
Vol 9 (1) ◽  
pp. 92
Author(s):  
Veronica Novinna
Keyword(s):  
Financial Services ◽  
Personal Information ◽  
Personal Data ◽  
Legal Protection ◽  
Peer To Peer ◽  
Third Party ◽  
Loan Default ◽  
P2p Lending ◽  
Peer Lending ◽  
Legal Consequences

Online loans are an instant method to get loans with technology basis and under control of the Financial Services Authority. Startups organizer have failed to protect consumers personal information thus creates problem in collecting debts."This study aims to explain and analyze" the”Legal Position of the Debt Collector in the administration of fintech and the legal consequences of the act of suppressing payments to consumers who fail to pay unlawfully.”This type of research used is normative juridical conducted with the approach of existing laws and regulations in Indonesia. Based on the research results obtained, there is a relationship or position of a third party with an online loan provider as a debt collector in a loan default, and this is explicitly explained in the P2P Lending fintech service delivery guidelines. "The legal consequences of the act of suppressing payments in the form of distribution" consumer personal data from the debt collector of the party organizing P2P Lending where "the consumer has the right to get legal protection through the filing of a claim of loss" arising as well as the organizer may be subject to administrative sanctions for his negligence. Pinjaman online ialah pinjaman cepat berbasis teknologi yang diawasi oleh OJK, beberapa penyelenggara telah lalai dalam menjaga data pribadi konsumen sehingga menimbulkan permasalahan dalam penagihan hutang kepada konsumen. Penelitian ini bertujuan untuk menjelaskan dan menganalisis Kedudukan Hukum Debt collector dalam penyelenggaraan fintech dan akibat hukum terhadap tindakan menekan pembayaran kepada konsumen gagal bayar dengan cara melawan hukum”. Jenis Penelitian yang dipergunakan ialah yuridis normatif yang dilakukan dengan pendekatan peraturan perundang-undangan yang ada di Indonesia. Berdasarkan hasil penelitian yang didapat yakni adapun hubungan atau kedudukan pihak ketiga dengan penyelenggara pinjaman online adalah sebagai penagih hutang dalam pinjaman gagal bayar dan hal tersebut dijelaskan secara eksplisit dalam pedoman perilaku pemberian layanan fintech Peer to Peer Lending (P2P Lending).”Adapun akibat hukum terhadap tindakan menekan pembayaran berupa penyebaran data pribadi konsumen dari debt collector pihak penyelenggara P2P Lending dimana konsumen berhak mendapat perlindungan hukum melalui pengajuan tuntutan kerugian yang timbul serta pihak penyelenggara dapat dikenakan sanksi administratif atas tindakan kelalaiannya.

scholarly journals Pengawasan Dalam Kerja Sama Bank Umum dan Penyelenggara Layanan Pinjam Meminjam Uang Berbasis Teknologi Informasi

2021 ◽  
Vol 4 (6) ◽  
pp. 2397
Author(s):  
Nabilla Virnanda Lobo
Keyword(s):  
Information Technology ◽  
Financial Services ◽  
Commercial Banks ◽  
Service Providers ◽  
Peer To Peer ◽  
Reciprocal Relationship ◽  
Regulatory Agencies ◽  
Conceptual Approach ◽  
Supervisory Authority ◽  
Peer Lending

AbstractPartnership is a collaboration between one party and another, where each party plays its respective roles in a reciprocal relationship that benefits each party. This research will discuss the characteristics of the forms of cooperation between commercial banks and information technology-based lending and borrowing service providers (fintech peer-to-peer lending) and then discusses the supervision of regulatory agencies on cooperation in the financial sector. This research is a doctrinal research using a statute approach and a conceptual approach to obtain a clearer picture. The result of this research is that credit distribution cooperation is carried out by taking into account the provisions regarding information technology-based lending and borrowing services while retail investment sales cooperation and non-performing loan management cooperation are carried out by taking into account the provisions concerning banks and / or commercial banks as in the cooperation. commercial banks. The supervisory authority lies with the Financial Services Authority. Keywords: Fintech P2PL; Commercial Banks; OJK.AbstrakPartnership adalah kerja sama antara satu pihak dengan pihak lainnya dimana masing-masing pihak menjalankan perannya masing-masing dalam hubungan timbal balik yang memberikan keuntungan kepada masing-masing pihak. Dalam penelitian ini akan dibahas mengenai karakteristik bentuk-bentuk kerja sama antara bank umum dengan penyelenggara layanan pinjam meminjam berbasis teknologi informasi (fintech peer-to-peer lending) kemudian membahas mengenai pengawasan lembaga otoritas terhadap kerja sama dalam sektor keuangan tersebut. Penelitian ini merupakan penelitian doctrinal research dengan menggunakan pendekatan perundang-undangan (statute approach) dan pendekatan konseptual (conceptual approach) untuk memperoleh gambaran yang lebih jelas. Hasil dalam penelitian ini yaitu kerja sama penyaluran kredit dilaksanakan dengan memperhatikan ketentuan mengenai layanan pinjam meminjam uang berbasis teknologi informasi sedangkan kerja sama penjualan investasi ritel dan kerja sama pengelolaan non-performing loan dilaksanakan dengan memperhatikan ketentuan mengenai bank dan/atau bank umum sebagaimana dalam kerja sama bank umum. Adapun kewenangan pengawasan berada di Otoritas Jasa Keuangan.Kata Kunci: Fintech P2PL; Bank Umum; OJK.

scholarly journals The Fintech Phenomenon: Protection of Consumer Privacy Data in Online Lending

2021 ◽  
Vol 21 (2) ◽  
pp. 185-194
Author(s):  
Ika Dewi Sartika Saimima ◽  
Valentino Gola Patria
Keyword(s):  
Financial Services ◽  
Legal Theory ◽  
Personal Data ◽  
Peer To Peer ◽  
Legal Norms ◽  
Consumer Privacy ◽  
P2p Lending ◽  
Peer Lending ◽  
The One ◽  
Online Lending

Abstract   Financial technology innovation that occurs nowadays leads to accelerated changes in the financial sector. However, these developments are like double-edged swords, on the one hand they provide convenience for consumers, on the other hand pose risks for consumers related to the confidentiality of their personal data. Money lending business through Peer to Peer lending (P2P lending) system often results in consumers receiving threats when they are late making payments. This paper presents several cases that result in consumers experiencing personal data theft, receiving threats directed at relatives or acquaintances. Even committing fraud by taking money from borrowers or customers without following the regulations made by the Financial Services Authority (OJK). The research data is carried out in a qualitative normative way where the data is translated based on legal norms and uses legal theory that can explain and answer existing legal problems.   Keywords: Consumer Protection, Peer to Peer lending (P2P lending), Private Data Protection   Abstrak   Inovasi teknologi keuangan yang terjadi saat ini mengarah pada akselerasi perubahan di sektor keuangan. Namun perkembangan tersebut ibarat pedang bermata dua, di satu sisi memberikan kemudahan bagi konsumen, di sisi lain menimbulkan risiko bagi konsumen terkait kerahasiaan data pribadinya. Bisnis money lending melalui sistem Peer to Peer lending (P2P lending) seringkali mengakibatkan konsumen mendapat ancaman ketika mereka terlambat melakukan pembayaran. Makalah ini menyajikan beberapa kasus yang mengakibatkan konsumen mengalami pencurian data pribadi, menerima ancaman yang ditujukan kepada kerabat atau kenalan. Bahkan melakukan penipuan dengan mengambil uang dari debitur atau nasabah tanpa mengikuti ketentuan Otoritas Jasa Keuangan (OJK). Data penelitian dilakukan secara normatif kualitatif dimana datanya diterjemahkan berdasarkan norma hukum dan menggunakan teori hukum yang dapat menjelaskan dan menjawab permasalahan hukum yang ada. Kata kunci: Peer to Peer lending (P2P lending), Perlindungan Konsumen, Perlindungan Data Pribadi   Kata Kunci: Perlindungan Konsumen, Peer to Peer lending (P2P lending), Perlindungan Data Pribadi

scholarly journals Legal Protection of Parties in Online Credit Agreement (Peer to Peer Lending) A Case Study of PT Vcard Technology Indonesia

2019 ◽  
Vol 06 (03) ◽  
pp. 511-532
Author(s):  
I Made Darma ◽  
Putu Jadnya
Keyword(s):  
Information Technology ◽  
Financial Services ◽  
Government Regulation ◽  
Personal Data ◽  
Legal Protection ◽  
Peer To Peer ◽  
Legal Certainty ◽  
Peer Lending ◽  
The Government ◽  
Credit Agreement

The development of digital economy has led people to adapt to the use of services in information-technology-based loan or peer-to-peer lending. In early 2019, the V-loan case attracted attention of many people. The case has made debtors depressed, removed from their own houses, etc. Some debtors even were fired from works. In a case, the loan provider misused debtors’ personal data in debtors’ cell phones. The loan provider created WhatsApp groups containing all debtors’ contacts, including the debtors. Then, they uploaded pornographic content. Their objective was to defame debtors. Parties involved in loan agreement should adhere rules and arrange for reasonable loan. To discuss this matter, it is necessary to review agreement based on the Law on Electronic Information and Transaction and the Regulation of Financial Services Authority number 77 of 2016. The study focused on legal protection of parties involving in P2P lending activities. The credit agreement of peer-to-peer lending is considered valid if it is based on Article 47 of the Government Regulation number 82 of 2016. Standard contract must be based on Article 20 of the Regulation of Financial Services Authority number 77 of 2016. Electronic signature is also required based on Article 41 of the Regulation. In addition, the application of information technology and electronic transactions must be carried out based on the principles of legal certainty, benefits, good faith, and the freedom of choice of technology based on Article 3 of Law Number 19 of 2016. Principles and objectives are fundamental elements of legal certainty. Therefore, organizer and the government must protect user of peer-to-peer lending.

scholarly journals LEGISLASI PERLINDUNGAN HUKUM TERHADAP FENOMENA FINANCIAL TECHNOLOGY PEER TO PEER LENDING DI INDONESIA

2021 ◽  
Vol 9 (1) ◽  
pp. 80
Author(s):  
Nur Afifah Aminuddin
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Legal Protection ◽  
Peer To Peer ◽  
Legal Issues ◽  
Conceptual Approach ◽  
The Public ◽  
Use Of Technology ◽  
Peer Lending ◽  
Financial Technology

<p><em>Financial technology is the implementation of the use of technology to improve banking and financial services. The emergence of Fintech-based companies, especially those offering lending and borrowing services or Peer To Peer Lending (P2PL) is currently getting the attention of the public and regulators. P2PL-based fintech services are one of the solutions for limited access to financial services in the country and realizing financial inclusion through synergies with financial institutions and technology companies. With the development of fintech peer to peer lending, illegal fintech problems arise which are detrimental to society, so it is necessary to study the legal protection of the regulations that govern it, and how to resolve disputes against it This research is normative by examining legal issues regarding legal protection for consumers and fintech peer to peer lending services and dispute resolution in the fintech business. The research method used includes a statue approach and a conceptual approach.</em></p><p><strong><em>Keywords : </em></strong><em>Legal Protection, Financial Technology Peer to Peer Lending.</em></p><p> </p><p><em>Financial technology </em>merupakan implementasi dari pemanfaatan teknologi untuk peningkatan layanan jasa perbankan dan keuangan. Kemunculan perusahaan-perusahaan berbasis <em>Fintech </em>terutama yang menawarkan layanan pinjam meminjam uang atau <em>Peer To Peer Lending </em>(P2PL) saat ini semakin mendapatkan perhatian publik dan regulator. Layanan <em>fintech </em>berbasis <em>P2PL </em>menjadi salah satu solusi terbatasnya akses layanan keuangan di tanah air dan mewujudkan iklusi keuangan melalui sinerginya dengan istitusi-institusi keuangan dan perusahaan-perusahaan teknologi. Semakin berkembangnya <em>fintech peer to peer lending </em>timbul permasalahan <em>fintech </em>illegal yang banyak merugikan masyarakat, maka itu perlu dilakukan kajian perlindungan hukum terhadap regulasi yang mengaturnya, serta bagaimana penyelesaian sengketa terhadapnya. Penelitian ini bersifat normatif dengan mengkaji isu hukum tentang perlindungan hukum terhadap konsumen dan layanan <em>fintech peer to peer lending</em> dan penyelesaian sengketa pada bisnis <em>fintech.</em> Metode penelitian yang digunakan meliputi pendekatan undang-undang <em>(statue approach)</em> dan pendekatan konseptual <em>(conceptual approach). </em></p><strong>Kata Kunci : </strong>Perlindungan hukum, <em>financial technology peer to peer lending.</em>

scholarly journals A SEGMENT STUDY OF MORAL CRISIS ON SOCIAL MEDIA AND ONLINE USING THE ARTIFICIAL INTELLIGENCE APPLICATION: A WAKE-UP CALL

2021 ◽  
Vol 6 (22) ◽  
pp. 36-44
Author(s):  
Nor ‘Adha Ab Hamid ◽  
Azizah Mat Rashid ◽  
Mohd Farok Mat Nor
Keyword(s):  
Artificial Intelligence ◽  
Social Media ◽  
Criminal Behavior ◽  
Human Life ◽  
Personal Data ◽  
Human Beings ◽  
Legal Provisions ◽  
Qualitative Approaches ◽  
Moral Crisis ◽  
Use Of Social Media

The development of science and technology is always ahead and has no point and seems limitless. Although human beings are the agents who started this development but eventually faced with a bitter situation which can sacrifice human moral, right and interest of our future. Shariah criminal offenses nowadays can not only occur or be witnessed by a person in a meeting physically with the perpetrator. As a result of technological developments, such behavior can occur and can be witnessed in general by larger groups. Although the illegal treatment which is not in accordance with sharia law and the moral crisis issues happening surrounding us and is rampant on social media, no enforcement is done on perpetrators who use social media medium. According to sharia principles, something that is wrong should be prevented and it is the responsibility of all Muslim individuals. But what is happening today, some Shariah criminal behavior, especially in relation to ethics, can occur easily using facilities technology driven by technological ingenuity. If the application of existing legal provisions is limited and has obstacles for enforcement purposes, then the problem needs to be overcome due to development the law should be in line with current developments. The study aims to identify a segment and cases of the moral crisis on social media and online using the artificial intelligence (AI) application and to identify the needs for shariah prevention. This thesis uses qualitative approaches, adopts library-based research, and, by content analysis of documents, applies the literature review approach. The findings show that the use of social media and AI technology has had an impact on various issues such as moral crisis, security, misuse, an intrusion of personal data, and the construction of AI beyond human control. Thus, the involvement and cooperation of various parties are needed in regulating and addressing issues that arise as a result of the use of social media and AI technology in human life.

scholarly journals Perlindungan Hukum Terhadap Bank Pembayar Talangan Haji

2020 ◽  
Vol 5 (2) ◽  
pp. 314
Author(s):  
Ilyas Muhammad ◽  
Bambang Winarno ◽  
Rachmad Safaat
Keyword(s):  
Financial Services ◽  
Legal Protection ◽  
Conceptual Approach ◽  
The Status ◽  
Formal Requirements ◽  
Material Requirements

This study discusses legal protection for banks with the status of BPS BPIH in curbing haj bailout financing that has passed the provisions of the Indonesian Ministry of Religion, in Article 12A paragraph (3) of the Regulation of the Minister of Religion Number 24 of 2016 which formulates “In the event that there are still haj bailout funds has not been resolved after the deadline as referred to in paragraph (2) the portion number for Pilgrims is still active ”. This study uses a normative juridical method with a statutory approach and a conceptual approach. The result is legal protection for BPS BPIH in obtaining its right to obtain certainty of repayment of funds for financing the status of the portion of the hajj is still active as regulated in Article 12A paragraph (3) of the Regulation of the Minister of Religion Number 24 of 2016. The formulation of the settlement of haj bailout financing through the fulfillment of formal requirements the formation of legislation by involving the financial services authority in the company, and the material requirements, namely by accommodating the rights of all stakeholders of haj bailout financing.

scholarly journals Internet finance: Digital currencies and alternative finance liberating the capital markets

2015 ◽  
Vol 4 (4) ◽  
pp. 190-201 ◽  
Author(s):  
Kim Wales
Keyword(s):  
Capital Markets ◽  
Financial Services ◽  
Global Economy ◽  
Industrial Revolution ◽  
Peer To Peer ◽  
Agricultural Revolution ◽  
Internet Finance ◽  
P2p Lending ◽  
Conducting Wire ◽  
Alternative Finance

This article discusses how the sudden shift in policy reform and innovation has the potential to liberate the financial markets. The economic potential of internet finance is beginning to take hold across the capital markets as industries like Peer – to – Peer Lending, Equity and Debt based Crowdfunding and virtual currencies and cryptocurrencies which are types of digital currency are quickly transforming the way businesses are being financed. From borrowing and lending, buying and selling securities, to conducting wire transfers internationally, these innovations are creating a new class and generation of investors will source investments opportunities. Helping institutions and governments assess risks and manage performance in order to determine where to deploy capital; and showing signs of lessening the inequality gap. Following the neolithic agricultural revolution and the industrial revolution, this new revolution will enable more people to access financial services in less traditional ways, especially the unbanked world with its huge potential. These new financial opportunities, such as peer – to - peer (P2P) lending, will be discussed and examined, and we will stress how they can allow people to bypass current barriers in the global economy. We conclude by arguing that all these developments, energized by the efforts of innovators and entrepreneurs, have the potential to radically transform the world in which we live, while promoting the core values of industrialized societies including democracy, capital formation, sustainability, and equality without solely relying on tax increases.

Legal protection for Provider in Peer to Peer Lending: an Example from Indonesian Regulation

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Trinas Dewi Hariyana
Keyword(s):  
Risk Management ◽  
Legal Protection ◽  
Peer To Peer ◽  
Bank Credit ◽  
Legal Certainty ◽  
P2p Lending ◽  
Credit Agreement ◽  
Dispute Resolution Mechanism ◽  
Settlement Mechanism ◽  
Financial Technology

The Financial Technology peer to peer (P2P) lending concept still finds many weaknesses, especially in terms of legal protection for parties and risk management from Fintech itself. P2P Lending Regulation in Indonesia currently uses POJK No. 77 / POJK / 2016 concerning technology-based money lending and borrowing services. The position of Fintech P2P lending is similar to a bank, but the concept is a different agreement. Fintech P2P lending funds can come from investors or funders or cooperate with legal entities or banks. Considering that the risk posed by Fintech P2P lending is very large, Fintech must also implement consumer protection, risk management and prudential principles like a bank credit agreement so as to cover the risk of bad credit, the Fintech platform uses other means to protect funds from investors or investors. the other is with the protection fund as done by the Coin works platform. The protection fund does not cover the entire fund invested by the funder, depending on the availability of protection funds and the amount of credit that is experiencing congestion. The POJK regulation in article 19 describes the agreement clause which must contain the dispute resolution mechanism and the settlement mechanism if the implementation of lending and borrowing services is not able to continue operations, so that with the rules related to the clause it is expected that the funder will still get legal certainty and protection for funds.

Securing Financial Inclusiveness Adoption of Blockchain FinTech Compliance

2022 ◽  
pp. 168-196
Author(s):  
Heru Susanto ◽  
Fahmi Ibrahim ◽  
Rodiah ◽  
Didi Rosiyadi ◽  
Desi Setiana ◽  
...  
Keyword(s):  
Cyber Security ◽  
Financial Services ◽  
Business Models ◽  
Service Providers ◽  
Personal Data ◽  
Financial Service ◽  
Management Approach ◽  
Security Risk ◽  
Payment Systems ◽  
Major Target

Financial technology (FinTech) as part of financial inlcussion changes conventional business models to be information technology minded. The presence of FinTech in the wider community makes it easy for access to financial service products and transactions and payment systems more practically, efficiently, and economically. Unfortunately, as the security risk in transacting increases, cyber security in the financial services industry and FinTech service providers is considered a major target by cybercriminals. This study proposed a security management approach through hybrid blockchain method implemented through flask framework and encryption to protect transaction data. The results are promising. Referring to accuracy, this study successfully reduces data leakage and misuse of personal data and financial data in FinTechs.

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