scholarly journals Standard Contract on Banking Sector: Regulation and Description in Internal Banking Regulations

2021 ◽  
Vol 10 (2) ◽  
pp. 251
Author(s):  
Desak Putu Dewi Kasih ◽  
Putu Devi Yustisia Utami
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Banking Sector ◽  
Action Plan ◽  
Financial Service ◽  
Conceptual Approach ◽  
Services Sector ◽  
Standard Contract ◽  
Banking Regulations ◽  
Legal Consequences

This study aims to determine the regulations regarding standard contracts in the banking sector after the existence of the authority of the Otoritas Jasa keuangan, to find out the legal consequences of violations of the provisions of standard contracts carried out by banking financial services and to determine efforts to prevent violations of standard contracts by banking financial services. This is normative legal research with with statutory approach and a conceptual approach. The results show that the regulation regarding the standard contract after the existence of the OJK as a financial service consumer protection agency is regulated through the Financial Services Authority Regulation (POJK) No.1/POJK.07/2013 concerning Consumer Protection in the Financial Services Sector and in the Financial Services Authority Circular Letter (SEOJK) No. 13 /SEOJK.07 / 2014 regarding the Standard contract. The legal consequences of violating the provisions of the standard contract are not regulated in the POJK and the SEOJK. When it compared with the provisions of article 18 paragraph (3) of the Consumer Protection Law which explicitly states that violations of article 18 paragraphs (1) and (2) result in standard clauses being null and void, POJK and SEOJK only require financial service actors to make action plan, hence it is deemed to have no clear legal consequences. One of the efforts that must be made by banking financial service actors to prevent violations of the provisions of the standard contract is by making standard contract regulations independently and elaborating them in the internal banking regulations.

scholarly journals LEGAL PROTECTION OF CONSUMERS ON FINTECH-BASED BUSINESS LOANS FOR SMALL AND MEDIUM ENTERPRISES (UMKM)

2020 ◽  
Vol 1 (2) ◽  
Author(s):  
Mellisa Rahmaini Lubis
Keyword(s):  
Venture Capital ◽  
Financial Institutions ◽  
Consumer Protection ◽  
Financial Services ◽  
Service Providers ◽  
Small And Medium Enterprises ◽  
Legal Protection ◽  
Services Sector ◽  
Medium Enterprises ◽  
Legal Consequences

Consumers loses have occurred in the practice of Fintech-based loans by non-bank financial institutions. The reports of losses arising from Fintech transactions has increased. This is because many Fintech organizers have not received permission from the OJK but are still able to conduct business activities in Indonesia. The problem in this study is: How is the supervision by the Financial Services Authority (OJK) of non-bank financial institutions providing fintech-based venture capital lenders for MSMEs? And how is the legal consequences of fintech-based business capital loan services for MSME entrepreneurs. The study used normative legal approach and the data analyzed by descriptive qualitative.          The results of this study indicate that supervision by the OJK of non-bank financial institutions providing fintech-based venture capital lenders for SMEs as a form of legal protection to consumers. It is carried out in the form of preventive and repressive protection. Preventive protection is implemented by enacting OJK Regulation Number 77 / POJK.01 / 2016, OJK Circular Letter Number 18 / SEOJK.02 / 2017 and OJK Regulation Number 1 / POJK.07 / 2013 concerning Consumer Protection in the Financial Services Sector. Repressive protection is by applying sanctions against fintech organizers who commit violations in the form of written warnings and fines; restrictions on business activities; and revocation of permission. The legal consequences arising from fintech-based business capital loan services for SMEs to fintech providers are required to improve standards and meet consumer protection aspects. The legal consequence for MSMEs is the potential for fraud and misuse of consumer data by Fintech service providers.

scholarly journals Putusan Mahkamah Agung Perlindungan Konsumen, Pasca Undang-Undang No. 21 Tahun 2011 Tentang Otoritas Jasa Keuangan

2020 ◽  
Vol 9 (2) ◽  
pp. 366
Author(s):  
A Dwi Rachmanto
Keyword(s):  
Supreme Court ◽  
Consumer Protection ◽  
Financial Services ◽  
Dispute Settlement ◽  
Financial Service ◽  
Point Of View ◽  
Services Sector ◽  
The Supreme Court ◽  
Case Decisions

The majority of civil case decisions specifically consumer protection are closely correlated with the financial services sector. Looking at and studying the verdicts of consumer protection cases contained in the Supreme Court (MA) website, it can be concluded that the consumer protection cases have increased significantly in the last 3 (three) years, between 2013 and 2017, especially after the enactment of Act Number 21 the Year 2011 concerning Financial Fervices Authority. This paper will analyze non-financial service case decisions, at least from the point of view of whether non-financial service case decisions are appropriately handled and understood by Supreme Court judges, BPSK Members, and by disputing parties based on Act Number 9 of 1999 Concerning Consumer Protection. The purpose of writing is to know what has been exactly done by BPSK and the judge and to analyze what is not appropriate normatively. The decision analysis is based on the classification of consumers, business actors, and the authority of the Consumer Dispute Settlement Agency (BPSK). This paper will analyze 14 non-financial services Supreme Court (MA) decisions in the span of time between 2013 and 2017, and use the normative juridical research method. From the results of the verdict research, it appears that the understanding of MA judges, BPSK members, and the parties to the dispute has not fully understood the understanding of consumers, business actors, and the authority of BPSK in handling cases. Mayoritas putusan perkara perdata khusus perlindungan konsumen berkorelasi erat dengan bidang jasa keuangan. Melihat dan mempelajari putusan perkara perlindungan konsumen yang terdapat dalam laman Mahkamah Agung (MA) dapat disimpulkan bahwa perkara perlindungan konsumen mengalami peningkatan signifikan dalam kurun 3 (tiga) tahun terakhir, antara tahun 2013 sampai dengan tahun 2017,  khususnya setelah berlakunya UU Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan. Tulisan ini akan menganalisis putusan perkara non jasa keuangan, setidaknya dari sudut pandang apakah putusan perkara non jasa keuangan telah tepat ditangani dan dipahami oleh hakim MA, Anggota BPSK dan  oleh para pihak yang bersengketa berdasarkan UU Nomor 9 Tahun 1999 Tentang Perlindungan Konsumen. Tujuan penulisan mengetahui apa yang telah tepat dilakukan oleh BPSK dan hakim serta menganalisis apa saja yang tidak tepat secara normatif. Analisis putusan dilakukan berdasarkan klasifikasi konsumen, pelaku usaha, dan kewenangan Badan Penyelesaian Sengketa Konsumen (BPSK). Tulisan ini akan menganalisis 14 putusan MA (MA) non jasa keuangan dalam rentang waktu antara tahun 2013 sampai dengan tahun 2017, dan menggunakan metode penelitian yuridis normatif. Dari hasil penelitian putusan nampak bahwa pemahaman hakim MA, Anggota BPSK dan para pihak yang bersengketa belum sepenuhnya memahami pengertian konsumen, pelaku usaha, dan kewenangan BPSK dalam menangani perkara.

THEORETICAL STUDY OF LEGAL PROTECTION FOR CREDITORS IN THE OPEN SAVINGS ACCOUNT STANDARD AGREEMENT IN BANKS IN INDONESIA

2020 ◽  
Vol 4 (1) ◽  
pp. 29
Author(s):  
Dauri Dauri ◽  
Nadya Waliyyatunnisa ◽  
Retias Dewi Jayanti
Keyword(s):  
Commercial Bank ◽  
Consumer Protection ◽  
Financial Services ◽  
Theoretical Study ◽  
Legal Protection ◽  
Financial Service ◽  
Services Sector ◽  
Financial Services Sector ◽  
Legal Relationship ◽  
Account Standard

This study aims to examine the legal protection of creditors against standard savingsbookkeeping agreements at the Bank. With the enactment of Law Number 8 of 1999concerning Consumer Protection, the customer or customer gets legal protection. To bea customer at a bank, the community must first be bound in a legal relationship with thebank. The legal relationship between the customer and the bank occurs after bothparties sign an account opening form as proof that the customer has agreed and iswilling to fulfill the terms and conditions proposed by the bank. Customers who deposittheir money in the bank expect profit, security and convenience, therefore there must beprotection provided by the bank to depositors. The problem that will be discussed in thisresearch is how the form of legal protection for creditors against the standardagreement to open a savings account at a bank. The method used in this study is a typeof normative juridical research or literature review or documents related to theproblem. Based on the results of the study the authors found that the form of legalprotection for deposit customers against the exoneration clause in the form of opening a savings account at a commercial bank is one of the government's efforts to protect consumers against businesses in the financial services sector. Financial ServicesAuthority Regulation Number:1/POJK.07/2013 concerning Consumer Protection TheFinancial Services Sector is able to put the position of consumers of financial servicesin balance with financial service players, but in practice banks still apply theexoneration clause.

scholarly journals PERLINDUNGAN NASABAH DEBITUR TERHADAP PERJANJIAN BAKU YANG MENGANDUNG KLAUSULA EKSONERASI PADA BANK UMUM DI BANDARLAMPUNG

FIAT JUSTISIA ◽  
2017 ◽  
Vol 10 (1) ◽  
Author(s):  
Ahmad Jahri
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Financial Institution ◽  
Legal Protection ◽  
Active Role ◽  
Services Sector ◽  
Financial Services Sector ◽  
Standard Contract ◽  
Bargaining Position ◽  
Credit Contract

Legal protection for debtor as a consumer in banking becomes important which the position of the some parts of credit contract is not balanced. Bank prefer to have a strong bargaining position, so the bank based on the reason of efficiency makes standard contract contain exoneration clause that incriminating debitors. The Government’s Determination Law No. 8 of 1999 on Consumer Protection has been set up the opposition to banning the use of the standard contract. Similarly, the Financial Services Authority (FSA)/ Otoritas Jasa Keuangan (OJK) carried out a function of supervising the financial institution has issued POJK No. 1/POJK.07/2013 on Consumer Protection of Financial Services Sector. The regulations issued to protect consumers especially financial services sector. The result showed that credit contract of the commercial bank in Bandar Lampung still contains exoneration clause that prohibited on The Government’s Determination Law No. 8 of 1999 on Consumer Protection and OJK Regulation No.1/POJK.07/2013 on Consumer Protection of Financial Services Sector. There is a clause that requires the debtors to submit all bank’s guidance and regulations, either already exist or will be set later. The legal consequence of the implementation of exoneration clause in credit contract is the contract can be canceled by law as mentioned in Article 18 paragraph (3) The Government’s Determination Law No. 8 of 1999 on Consumer Protection. The legal protection of debtor as a consumer of banking service has been arranged by the regulations, but the implementation has not effective because still there are abuses by the bank. Therefore, the active role of Financial Services Authority to conduct monitoring and providing strict sanctions to banks that violate the rule. Furthermore, need education for community and have to make a format of standard contract that compatible with rules which formulated by the Financial Services Authority (FSA)/ Otoritas Jasa Keuangan (OJK). Keywords: Exoneration, Clause, Customer Protection, Standard Contract

FIFA – highlighting the links between global banking and international money laundering

2018 ◽  
Vol 21 (4) ◽  
pp. 498-512 ◽  
Author(s):  
Mohammed Ahmad Naheem
Keyword(s):  
Money Laundering ◽  
Financial Services ◽  
Banking Sector ◽  
Due Diligence ◽  
Content Type ◽  
Services Sector ◽  
Financial Services Sector ◽  
Global Banking ◽  
Beneficial Ownership ◽  
The Impact

PurposeThis paper uses the recent (August 2015) FIFA arrests to provide an example of how illicit financial flows are occurring through the formal banking and financial services sector. The purpose of this paper is to explore which elements of anti-money laundering (AML) compliance need to be addressed to strengthen the banking response and reduce the impact of IFFs within the banking sector.Design/methodology/approachThe paper is based on the indictment document currently prepared for the FIFA arrests and the District Court case of Chuck Blazer the FIFA Whistleblower. It uses the banking examples identified in the indictment as typologies of money laundering and wire fraud. Corresponding industry reports on AML compliance are included to determine where the major weaknesses and gaps are across the financial service.FindingsThe main findings from the analysis are that banks still have weak areas within AML compliance. Even recognised red flag areas such as off shore havens, large wire transfers and front companies are still being used. The largest gaps still appear to be due diligence and beneficial ownership information.Research limitations/implicationsThe research topic is very new and emerging topic; therefore, analysis papers and other academic writing on this topic are limited.Practical implicationsThe research paper has identified a number of implications for the banking sector, addressing AML deficiencies, especially the need to consider the source of funds and the need for further enhanced due diligence systems for politically exposed and influential people and the importance of beneficial ownership information.Social implicationsThis paper has implications for the international development and the global banking sector. It will also influence approaches to AML regulation, risk assessment and audit within the broader financial services sector.Originality/valueThe originality of this paper is the link between the emerging issues associated with allegations of bribery and corruption within FIFA and the illicit financial flow implications across the banking sector.

scholarly journals Kewenangan Badan Penyelesaian Sengketa Konsumen (BPSK) dalam Menyelesaikan Sengketa Asuransi Pasca Keluarnya Peraturan Otoritas Jasa Keuangan (OJK) Nomor 1/POJK.07/2014

2019 ◽  
Vol 12 (2) ◽  
pp. 102
Author(s):  
Wisnu Kumala ◽  
Yaswirman Yaswirman ◽  
Ulfanora Ulfanora
Keyword(s):  
Dispute Resolution ◽  
Consumer Protection ◽  
Financial Services ◽  
Alternative Dispute Resolution ◽  
Dispute Settlement ◽  
Legal Research ◽  
Research Results ◽  
Consumer Protection Act ◽  
Legal Effect ◽  
Legal Consequences

There is a tug of authority in resolving insurance disputes outside the court between the Consumer Dispute Settlement Agency (BPSK) based on Law Nomor 8 of 1999 concerning Consumer Protection with Alternative Dispute Resolution Institutions (LAPS) based on Financial Services Authority Regulation Number 1/POJK.07/2014. This encourages the author to conduct legal research in order to determine the authority of BPSK in resolving insurance disputes as well as the legal consequences of the decision after the issuance of the Financial Services Authority Regulation Number 1/POJK.07/2014 using the statutory approach. This legal research results in the finding that BPSK is still authorized to settle insurance disputes following the issuance of the Financial Services Authority Regulation Number 1/POJK.07/2014, this is based on the provisions of the Lex superior derogat legi inferiori principle. Then there is no legal effect on the BPSK decision after the issuance of the Financial Services Authority Regulation. This is because BPSK's decision has been based on Law Number 8 of 1999 concerning Consumer Protection, whose position is higher than the Regulation of the Financial Services Authority. So there is no need for BPSK to follow the provisions of the regulations whose hierarchy of legislation is lower than the Consumer Protection Act. Therefore BPSK's decision is "final and binding" as explained in Article 54 paragraph 3 of the Consumer Protection Act.

scholarly journals PERAN OTORITAS JASA KEUANGAN TERHADAP PENGAWASAN LEMBAGA KEUANGAN DI INDONESIA

2019 ◽  
Vol 1 (02) ◽  
pp. 177-188
Author(s):  
Annisa Arifka Sari
Keyword(s):  
Capital Market ◽  
Financial Services ◽  
Financial Service ◽  
Legal Basis ◽  
Legal Research ◽  
Services Sector ◽  
Financial Services Sector ◽  
Stable Manner ◽  
The Government

Penelitian ini bertujuan untuk menjelaskan peran Otoritas Jasa Keuangan sebagai lembaga independen dalam melakukan pengawasan terhadap lembaga jasa keuangan di Indonesia serta kewenangan Otoritas Jasa Keuangan yang diatur dalam Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan. Metode yang digunakan dalam penelitian ini adalah penelitian hukum normatif. Dari hasil penelitian dijelaskan bahwa Otoritas Jasa Keuangan adalah lembaga yang independen dan bebas dari campur tangan pihak lain, yang mempunyai fungsi, tugas, dan wewenang pengaturan, pengawasan, pemeriksaan, dan penyidikan terhadap lembaga jasa keuangan seperti perbankan. Dasar hukum dibentuknya Otoritas Jasa Keuangan adalah Undang-Undang Nomor 21 Tahun 2011. Secara kelembagaan, Otoritas Jasa Keuangan berada di luar pemerintah, yang dimaknai bahwa Otoritas Jasa Keuangan tidak menjadi bagian dari kekuasaan pemerintah. Otoritas Jasa Keuangan dibentuk dengan tujuan agar keseluruhan kegiatan di dalam sektor jasa keuangan terselenggara secara teratur, adil, transparan, dan akuntabel; mampu mewujudkan sistem keuangan yang tumbuh secara berkelanjutan dan stabil; serta mampu melindungi kepentingan konsumen dan masyarakat. Otoritas Jasa Keuangan bertugas tidak hanya mengatur dan mengawasi perbankan saja, tetapi juga mencakup pasar modal, perasuransian, dana pensiun, lembaga pembiayaan, serta lembaga jasa keuangan lainnya.    THE ROLE OF FINANCIAL SERVICES AUTHORITY ON SUPERVISION OF FINANCIAL INSTITUTIONS IN INDONESIA This research aims to explain the role of the Financial Services Authority as an independent institution in supervising financial service institutions in Indonesia as well as the authority of the Financial Services Authority as regulated in Law Number 21 of 2011 concerning the Financial Services Authority. The method used in this research is normative legal research. From the research results, it is explained that the Financial Services Authority is an independent institution and free from interference from other parties, which has the function, task and authority to regulate, supervise, examine and investigate financial service institutions such as banks. The legal basis for the establishment of the Financial Services Authority is Law Number 21 of 2011. Institutionally, the Financial Services Authority is outside the government, which means that the Financial Services Authority is not part of the government's power. The Financial Services Authority was formed with the aim that all activities in the financial services sector are carried out in an orderly, fair, transparent and accountable manner; able to realize a financial system that grows in a sustainable and stable manner; and able to protect the interests of consumers and society. The Financial Services Authority is tasked with not only regulating and supervising banking, but also covering the capital market, insurance, pension funds, financing institutions, and other financial service institutions.    

scholarly journals PERLINDUNGAN HUKUM BAGI NASABAH PENGGUNA INTERNET BANKING

GANEC SWARA ◽  
2019 ◽  
Vol 13 (2) ◽  
pp. 207
Author(s):  
ALINE FEBRIANY LOILEWEN ◽  
TITIN TITAWATI
Keyword(s):  
Risk Management ◽  
Consumer Protection ◽  
Financial Services ◽  
Service Sector ◽  
Legal Protection ◽  
Internet Banking ◽  
Electronic Information ◽  
Customer Complaints ◽  
Services Sector ◽  
Financial Services Sector

  This study aims to examine and analyze how the legal protection and supervision of the banking world for customers using internet banking facilities.  This study uses a form of normative legal research, namely research that is based on written rules and legislation and various literature related to the problems that will be discussed in this study.   Some forms of legal protection for customers using internet banking facilities are the existence of the Financial Services Authority Regulation No.38 / POJK.03 / 2016 concerning Application of Risk Management in the Use of Information Technology by Commercial Banks (POJK IT Risk Management). The existence of Article 1 number 12 of Law No. 11 of 2008 concerning Information and Electronic Transactions (UU ITE), electronic signatures are signatures consisting of electronic information that is attached, associated or related to other electronic information used as a verification and authentication tool . Another thing that can be done by customers who use internet banking facilities is to conduct customer complaints. Customer complaints are a manifestation of the protection of rights owned by customers, namely the right to be heard. This right is regulated in Article 4 letter d of Law 8 of 1999 concerning Consumer Protection of the PK Law). Whereas in the financial services sector, there is Article 32 of the Financial Services Authority Regulation No. 1 / POJK.07 / 2013 concerning Consumer Protection in the Financial Services Sector (POJK PK) which stipulates that financial service sector business operators must have and carry out customer service and settlement complaints.  The supervision policy carried out by Bank Indonesia towards banks aims to protect the interests of the community and to maintain the continuity of the bank's business as a trust and as an intermediary institution, the supervision is carried out either directly or indirectly

Employees Outlook Regarding Quality and CRM Link for Enriched Competitive Strategy

2020 ◽  
Vol 9 (2) ◽  
pp. 27-47
Author(s):  
Neeta Baporikar
Keyword(s):  
Financial Services ◽  
Competitive Strategy ◽  
Banking Sector ◽  
Business Environment ◽  
Customer Relationship ◽  
Primary Data ◽  
Research Approach ◽  
Services Sector ◽  
Financial Services Sector ◽  
Management Processes

The business environment is dynamic and faces frequent changes driven by macro and micro factors. Due to these changes, businesses are forced to either evolve or exit. Those that evolve choose the path of advancement and are determined to sustain their competitive positions. The financial services sector is one sector that is particularly undergoing changes and banks particularly in this sector face changes from all front. All segments in which banks operate from payment transfers to home loans are under serious pressures due to FinTechs and technology. The banking sector in Namibia is no exception. Hence, adopting a qualitative research approach with content analysis, primary data gathered by questionnaires from Standard Bank employees, the study aims to investigate employees' outlook regarding quality and CRM nexus for enriched competitive strategy in an ever-changing and competitive environment. The findings reveal that quality and customer relationship management processes do influence customers' experiences, satisfaction levels, and loyalty.

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