A Study on Consumer Trust in the Financial Consumer Protection System in the Financial Investment Market

2020 ◽  
Vol 31 (2) ◽  
pp. 105-127
Author(s):  
Minjung Kim ◽  
Eunmi Kim ◽  
Min Joo Gwak
Keyword(s):  
Consumer Protection ◽  
Protection System ◽  
Consumer Trust ◽  
Financial Investment

Effectiveness of the consumer protection system upon purchasing goods in online stores

2021 ◽  
Vol 28 (1) ◽  
pp. 137-146
Author(s):  
Iryna Y. Puchkovska ◽  
Oleksandr O. Biliaiev ◽  
Victor P. Yanyshen ◽  
Hanna O. Urazova
Keyword(s):  
Consumer Protection ◽  
Protection System ◽  
Scientific Methods ◽  
Customer Reviews ◽  
Existing Problems ◽  
Current State ◽  
Foreign Countries ◽  
General Scientific ◽  
Online Stores ◽  
Potential Customers

Every year, the vast majority of countries switch to an online environment. This is especially true for online stores. The subject of this study is the system of consumer protection upon buying goods in online stores and its effectiveness. The purpose is to analyse the state of development of e-commerce in Ukraine and the system of consumer protection upon purchasing goods in online stores. The following general scientific methods were used: classification and theoretical generalisation – to study the theoretical foundations of e-commerce; statistical analysis – to analyse the current state of e-commerce in Ukraine and the consumer protection system. The following results were obtained: based on the analysis of the provisions of current legislation and the experience of foreign countries describing the development of the e-commerce market in Ukraine and the world, the main trends that have developed have been identified, the positive and negative aspects of e-commerce have been identified, as well as the effectiveness of the consumer protection system upon purchasing goods in online stores. It was concluded that the “e-commerce” industry is developing very dynamically. Consumer protection upon purchasing goods through online stores is carried out as with a regular purchase and sale, but it has a number of specific features. To attract potential customers and build their trust, online stores try to post as much information about their products and services as possible on their official websites, including customer reviews. This indicates that the sellers themselves are interested in resolving disputes as soon as possible and preserving their reputation. Taking this into account, it is the improvement of the consumer literacy of citizens, the ability to fully exercise their rights, and to protect their interests in case of certain contradictions that is one of the ways to solve the existing problems

scholarly journals Consumer protection and safeguards: proper information on the geographical origin of ingredients. The case of olive oils

2021 ◽  
pp. 313-329
Author(s):  
Ángel Martínez Gutiérrez ◽  
Trinidad Vázquez Ruano
Keyword(s):  
Consumer Protection ◽  
Geographical Origin ◽  
Unfair Competition ◽  
Protection System ◽  
Geographical Indication ◽  
Olive Oils ◽  
Protected Designation Of Origin

Since the nineties of the previous century, qualified geographic names have been covered by a harmonised EU-wide protection system whose main feature is the recognition of exclusive rights. Such rights are generally parallel to those deriving from the registration of a brand. Accordingly, they are not solely protected by the measures provided in the rules on unfair competition but also by a EU protection system based on granting the group of traders that had sought and obtained recognition of the protected designation of origin or geographical indication a monopoly over the use of a given geographic name and the possibility to seek remedy against any unlawful use of it. In this sense, the information provided generally benefits the market as well as merchants and consumers.

Consumer Privacy Regulations

2021 ◽  
pp. 1844-1860
Author(s):  
Martha Davis
Keyword(s):  
Big Data ◽  
Consumer Protection ◽  
Data Privacy ◽  
Personal Information ◽  
Smart Cities ◽  
Consumer Trust ◽  
Consumer Privacy ◽  
Societal Benefits ◽  
Globalized Economy ◽  
Information Consumers

Big data and analytics have not only changed how businesses interact with consumers, but also how consumers interact with the larger world. Smart cities, IoT, cloud, and edge computing technologies are all enabled by data and can provide significant societal benefits via efficiencies and reduction of waste. However, data breaches have also caused serious harm to customers by exposing personal information. Consumers often are unable to make informed decisions about their digital privacy because they are in a position of asymmetric information. There are an increasing number of privacy regulations to give consumers more control over their data. This chapter provides an overview of data privacy regulations, including GDPR. In today's globalized economy, the patchwork of international privacy regulations is difficult to navigate, and, in many instances, fails to provide adequate business certainty or consumer protection. This chapter also discusses current research and implications for costs, data-driven innovation, and consumer trust.

scholarly journals PROCEDURE FOR RESOLVING CONSUMER DISPUTES THROUGH CONSUMER DISPUTE SETTLEMENT AGENCY (BPSK)

2021 ◽  
Vol 1 (2) ◽  
pp. 64
Author(s):  
Maryanto Maryanto ◽  
Lathifah Hanim ◽  
Dini Amalia Fitri
Keyword(s):  
Dispute Resolution ◽  
Consumer Protection ◽  
Dispute Settlement ◽  
Protection System ◽  
Legal Certainty ◽  
Protection Agency ◽  
Resolution Process ◽  
Dispute Resolution Process

The establishment of the Consumer Dispute Settlement Agency (here and after, we will use the acronym BPSK) is to protect consumers and entrepreneurs by designing a Consumer Protection system that contains legal certainty and transparency. The purpose of this study was to determine the procedure for resolving consumer disputes through BPSK. This research uses doctrinal and non-doctrinal approaches. The result of the research is that the procedure for resolving consumer disputes carried out by BPSK is through 2 (two) processes or paths that must be passed if consumers want to resolve consumer disputes with business actors, namely: Dispute Resolution outside the court, namely the process of making a complaint or claim for losses carried out by business actors to BPSK or Non-Governmental Consumer Protection Agency (LPKSM). From these complaints, BPSK is obliged to issue a decision no later than 21 (twenty-one) working days after the claim is received and Dispute Settlement Through the court, namely the process Consumers who feel aggrieved report to the authorities, namely to the police for follow-up as in the dispute resolution process in court. There are 3 (three) ways to settle consumer disputes, namely conciliation, arbitration, and mediation.

Financial consumer protection principles in accordance with the Quran and Sunnah

2019 ◽  
Vol 7 (2) ◽  
pp. 58
Author(s):  
Rusni Hassan ◽  
Nur I’ffah Muhammad Nasir
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Consumer Protection ◽  
Consumer Trust ◽  
Islamic Finance ◽  
Protection Mechanism ◽  
Good Practices ◽  
Finance Industry ◽  
The Stability ◽  
Competitive Economy

Consumer plays an essential role in the economy of a nation. In a competitive economy where the businesses and manufacturers may use exploitative means and unfair trade practices, there is an urgent need to protect the consumers against such malpractices. Financial consumers are of no exception. Reliable consumer protection helps to build consumer trust in financial institutions which subsequently contribute to the stability of the financial market. The Western scholars establish the existing standards and good practices on financial consumer protection based on ethics, however, it is also essential to develop Shariah standards and good practices for the Islamic finance industry because the different elements that exist between the Islamic and conventional finance industry. The purpose of this paper is to study the financial consumer protection mechanism from the Shariah sources of Quran and Sunnah. This paper is conceptual, mainly applying the content analysis approach that explores the works of Islamic scholars related to the concept of consumer protection.

scholarly journals PERMASALAHAN DAN KENDALA PENYELESAIAN SENGKETA KONSUMEN MELALUI BADAN PENYELESAIAN SENGKETA KONSUMEN (BPSK)

2012 ◽  
Vol 12 (1) ◽  
Author(s):  
Kurniawan Kurniawan
Keyword(s):  
Dispute Resolution ◽  
Consumer Protection ◽  
Dispute Settlement ◽  
Protection System ◽  
District Court ◽  
Legal Certainty ◽  
Judicial Process ◽  
Voluntary Choice ◽  
Settlement Of Dispute

Consumer dispute can be resolved through on courts or outside the court based on voluntary choice of the parties. Settlement of dispute through the court provisions on the article 45. Dispute of the settlement can be solved out the court by using Consumer Dispute Settlement Body (BPSK).The purpose of establshing BPSK is to protec consumer and producer by designing consumer protection system that contain legal certainty and transparency the information. The existence of BPSK expected equality of justice especially to consumer that aggrieved by consumer. It because the dispute between consumer and producer generally involved in small value so that the consumer hesitate to registered his case to judicial process. There is no adequate between the court fee and indemnification perceived. The problems that the decision of BPSK has characteristic final and binding however it can be carried out to the district court and the decision cannot be executed directly or realized.  Keywords: consumers right, consumer’s protection, dispute resolution. 

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