scholarly journals Kejahatan Dunia Maya Pada Sektor Perbankan Di Indonesia: Analisa Perlindungan Hukum Terhadap Nasabah

PLENO JURE ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 122-133
Author(s):  
Kukuh Dwi Kurniawan ◽  
Dwi Ratna Indri Hapsari
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Legal Protection ◽  
Electronic Technology ◽  
Positive Law ◽  
Business Entities ◽  
Telecommunications Law ◽  
Financial Losses

Perkembangan teknologi elektronik sejalan dengan semakin meningkatnya kejahatan, dari kejahatan secara konvensional menjadi kejahatan yang memanfaatkan keahlian dibidang teknologi elektronik untuk kepentingan sendiri atau orang lain. Penelitian ini untuk menelaah lebih mendalam mengenai perlindungan hukum kepada konsumen sektor perbankan atas suatu bentuk kejahatan cyber di Indonesia. Jenis kejahatan dunia maya pada sektor perbankan diantaranya adalah skimming, malware dan hacking. Seringnya kejahatan tersebut merugikan pihak bank dan nasabah secara finansial. Bentuk perlindungan hukum bagi nasabah atas kejahatan dunia maya telah diatur melalui UUPK, UU Perbankan, UU ITE, UU Telekomunikasi serta secara teknis termuat dalam Peraturan Otoritas Jasa Keuangan. Penelitian menggunakan pendekatan yuridis yang mendeskripsikan regulasi terkait perlindungan nasabah bank atas kejahatan tindak pidana cybercrime.  Dari hasil penelitian ini menunjukkan secara preventif regulasi dalam hukum positif saat ini memberikan kewajiban kepada bank sebagai badan usaha untuk selalu menjaga dan melindungi nasabah dari kejahatan dunia maya. Secara represif apabila nasabah mengalami kerugian finansial atas kejahatan dunia maya maka Langkah yang dapat dilakukan adalah dengan jalan non-litigasi dan litigasi. Abstract. The development of electronic technology is in line with the increasing number of crimes, from conventional crimes to crimes that use expertise in the field of electronic technology for their own or other people's interests. This study aims to examine more deeply the legal protection for consumers in the banking sector for a form of cybercrime in Indonesia. Types of cybercrime in the banking sector include skimming, malware and hacking. Often these crimes harm the bank and customers financially. Forms of legal protection for customers against cybercrimes have been regulated through the UUPK, the Banking Law, the ITE Law, the Telecommunications Law and are technically contained in the Financial Services Authority (OJK) Regulations. The study uses a juridical approach that describes regulations related to the protection of bank customers against cybercrime crimes. The results of this study indicate that preventively, regulations in positive law currently provide an obligation to banks as business entities to always maintain and protect customers from cybercrimes. Repressively, if customers experience financial losses due to cybercrimes, the steps that can be taken are non-litigation and litigation.

scholarly journals Legal Protection of Donation-based Crowdfunding Zakat on Financial Technology: Digitalization of Zakat under Perspective of Positive Law and Islamic Law

2019 ◽  
Author(s):  
Nurul Ula Ulya
Keyword(s):  
Financial Services ◽  
Islamic Law ◽  
Legal Protection ◽  
The Other ◽  
Legal Certainty ◽  
Digital Form ◽  
Legal Research ◽  
Positive Law ◽  
Specific Regulation ◽  
Financial Technology

The aim of this research is to see the legal protection of Donation-based Crowdfunding zakat on financial technology due to the huge spreading of startup with zakat fund in Indonesia. Meanwhile there is still no specific regulation protecting various risks that will arise especially the risk of unobvious identity, potential disputes, dissimilarity of the zakat purpose and the implementation of zakat distribution, and the other deviations. This type of research is library legal research with conceptual and state approach. The result of the research shows that in positive law there is no legal protection regulation in Zakat based on Donationbased Crowdfunding. The regulation only crowdfunding contains investment element andgenerate profit as described in Act Number 21 Year 2011 regarding Financial Services Authority. While Zakat-based Donation-based Crowdfunding is a nonprofit-oriented type of product. This makes the absence in the elements of justice and legal certainty. The regulation on zakat only described in Law number 23 year 2011 which is not contained that system. In the protection of Islamic law, the certainty of the implementation of the contract is stipulated in the zakat based on sharia agreement that must comply with the various principles and provisions of sharia, whether the arrangement starts from the intention, the process of agreement, transparency, and all aspects relating to Amil, Muzakki and Mustahiq zakat (Who is the mustahiq and what kind and how the implementation). finally, the researcher hopes that this research will bring inputs for government to make more comprehensive regulations on zakat in its digital form.

scholarly journals The Urgency of Law Establishment Regarding Block-Chain Technology in Indonesia Based on the Perspective of Dignified Justice (Keadilan Bermartabat)

2019 ◽  
Vol 6 (2) ◽  
pp. 177
Author(s):  
Teguh Prasetyo ◽  
Rizky P.P. Karo Karo ◽  
Vena Pricilia ◽  
Natasha Setiadinata
Keyword(s):  
Financial Services ◽  
Data Privacy ◽  
Banking Sector ◽  
Positive Impact ◽  
Legal Protection ◽  
Empirical Method ◽  
Decentralized System ◽  
Blockchain Technology ◽  
Block Chain ◽  
The Government

AbstractBlock-chain technology has been utilized in various countries in the world, specifically in Indonesia. Block-chain brings positive impact on the development of businesses in Indonesia, but it also has negative impacts if the government of Indonesia doesn�t keep an eye on it. The Positive impacts are that block-chain can improve the efficiency of time and transactions fee. But on the other hand, block-chain gives opportunity to the beginning of cybercrime, for example data theft, client�s financial data. The formulation of problems are: 1. What is the urgency of the establishment of law concerning block-chain technology utilization in Indonesia based on the perspective of dignified justice; 2. What kind of legal protection should be established concerning consumer and business founder protection on the utilization block-chain technology. This research method is a normative empirical method conducted the way of analyzing norms, the laws and regulation on regarding the topic and with profound interviews with experts/officials who has decent knowledge in this specific area. The purpose of this research is to analyze the consumer and founder protection related on the usage of block-chain and to give an input to the ministry on the urgency of the formation of the law on blockchain in Indonesia. The results of this study are that the blockchain technology has been used in various businesses, such as financial / banking sector, agriculture, etc. Blockchain technology can change the paradigm in the financial sector from a centralized system to a decentralized system and to improve system security. Blockchain must be monitored because the blockchain system contained data privacy, financial privacy to prevent the criminal acts. The conclusion is that the supervision of the blockchain system is carried out by forming special regulations on the blockchain or adding new norms which are based on the dignified justice about blockchain in Bank Indonesia Regulations or Financial Services Authority Regulations related to financial technology.Keywords: Blockchain, Consumers Protection, Money Laundering, Renewal Law, Justice Dignity (Keadilan Bermartabat)Urgensi Pembentukan Peraturan Perundang-Undangan Terkait Teknologi Blockchain di Indonesia berdasarkan Keadilan BermartabatAbstrakTeknologi blockchain telah banyak dimanfaatkan di berbagai negara di dunia, khususnya di Indonesia. Penggunaan blockchain membawa dampak positif bagi pengembangan dunia bisnis di Indonesia, namun juga memiliki dampak negatif jika tidak diawasi oleh baik oleh Pemerintah Indonesia. Dampak positif penggunaan blockchain dapat meningkatkan efisiensi waktu, biaya lalu lintas transaksi keuangan. Namun disatu sisi, blockchain menimbulkan dampak negatif yakni membuka peluang munculnya kejahatan dunia maya (cybercrime) misalnya pencurian data privasi, data keuangan nasabah. Adapun yang menjadi rumusan masalah adalah: 1. Apakah yang menjadi urgensi pembentukan peraturan perundang-undangan terkait manfaat teknologi blockchain di Indonesia berdasarkan perspektif keadilan yang bermartabat; 2. Apa jenis perlindungan hukum yang perlu dibangun tentang perlindungan konsumer dan pelaku usaha dalam penggunaan teknologi block chain. Metode yang digunakan ialah normatif empiris yang dilakukan dengan cara menganalisis norma, peraturan perundang-undangan terhadap topik yang diangkat dan dengan metode wawancara yang mendalam kepada narasumber/pejabat yang memiliki kompetensi di bidang tersebut. Tujuan penelitian untuk menganalisis perlindungan konsumen & pelaku usaha terkait penggunaan blockchain dan untuk memberi masukan bagi Kementerian terkait tentang urgensi pembentukan peraturan penggunaan blockchain di Indonesia. Hasil penelitian ini adalah teknologi blockchain telah dipergunakan di pelbagai usaha, baik di sektor keuangan/perbankan, pertanian dan lain sebagainya. Teknologi blockchain dapat merubah paradigma di sektor keuangan dari sistem sentralisasi menuju sistem desentralisasi dan untuk meningkatkan keamanan sistem. Blockchain wajib diawasi karena di dalam sistem blockchain terdapat privasi data, privasi keuangan dan agar tidak disalahgunakan untuk melakukan tindak pidana. Kesimpulannya adalah pengawasan sistem blockchain dilaksanakan dengan membentuk peraturan khusus tentang blockchain atau menambahkan norma baru yang berprinsipkan keadilan bermartabat tentang blockchain dalam Peraturan Bank Indonesia ataupun Peraturan Otoritas Jasa Keuangan yang terkait teknologi finansial.�Kata Kunci: Blockchain, Perlindungan Konsumen, Pencucian Uang, Pembaharuan Hukum, Keadilan Bermartabat

scholarly journals The Role of Financial Services Authority and Legal Protection of Debtor in Financial Technology (Fintech) Based Lending Agreements

2021 ◽  
Vol 04 (07) ◽  
Author(s):  
Himawan Prasetyo ◽  
Keyword(s):  
Information Technology ◽  
Financial Services ◽  
Research Method ◽  
Legal Protection ◽  
Main Issue ◽  
Positive Law ◽  
Financial Technology

The main issue discussed in this study are regarding the implementation of financial technology (Fintech) -based lending agreements which regulated in Indonesian positive law and also barrier on legal protection in implementing technology(Fintech) based lending agreements. This study applied a normative research method which collected primary legal sources of legislation and secondary legal sources of books, journals, and other articles related to this study. The implementation of financial technology (Fintech) based lending agreements is regulated in positive Indonesian law which is Financial Services Authority Regulation Number 77 / POJK.01/2016 concerning Information Technology-Based Lending Services. Meanwhile, legal protection in the implementation of technology(Fintech) based lending agreements occurs when the debtor defaults and the creditor commits an unlawful act, both of which occur due to a lack of legal protection arrangements in the Financial Services Authority Regulation.

scholarly journals Penyelesaian Sengketa Akibat Skimming pada Sektor Perbankan

2020 ◽  
Vol 9 (2) ◽  
pp. 29-41
Author(s):  
Titie Syahnaz Natalia
Keyword(s):  
Dispute Resolution ◽  
Financial Services ◽  
Research Method ◽  
Banking Sector ◽  
Legal Protection ◽  
Banking Systems

This research has purposed to discover the legal protection for a customers which is using ATM card in Indonesia banking systems and to discover the dispute resolution against skimming system in banking sector. This research used normative research method. The conclusion from this study that is the legal protection for customers who is using ATM cards is based Act Number 8 of 1999 concerning Customer Protections and Act Number 21 of 1999 concerning Financial Services Authority especially on The regulation of Financial Services Authority Number 1/POJK.07/2013 concerning Customers Legal Protection on Financial Services. The dispute resolutions for skimming system problems can be resolved by litigation and non litigation.

The Systemic Effects of Prudential Regulation Toughening:The Results of a Stress-test for Russian Banks

2012 ◽  
pp. 4-31 ◽  
Author(s):  
M. Mamonov ◽  
A. Pestova ◽  
O. Solntsev
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Stress Test ◽  
Credit Market ◽  
Capital Adequacy ◽  
Government Support ◽  
Government Ownership ◽  
Prudential Regulation ◽  
The Government ◽  
The Stability

The stability of Russian banking sector is threatened by three negative tendencies - overheating of the credit market, significant decrease of banks capital adequacy ratios, and growing problems associated with banks lending to affiliated non-financial corporations. The co-existence of these processes reflects the crisis of the model of private investments in Russian banking sector, which was observed during the last 20 years. This paper analyzes the measures of the Bank of Russia undertaken to maintain the stability of the banking sector using the methodology of credit risk stress-testing. Based on this methodology we conclude that the Bank of Russias actions can prevent the overheating of the credit market, but they can also lead to undesirable effects: further expansion of the government ownership in Russian banking sector and substitution of domestic credit supply by cross-border corporate borrowings. The later weakens the competitive positions of Russian banks. We propose a set of measures to harmonize the prudential regulation of banks. Our suggestions rely on design and further implementation of the programs aimed at developing new markets for financial services provided by Russian banks to their corporate and retail customers. The estimated effects of proposed policy measures are both the increase in profitability and capitalization of Russian banks and the decrease of banks demand for government support.

The Decision of the General Meeting of Members in a Non-Public Business Company: Concept and Types

2020 ◽  
Vol 2 (2) ◽  
pp. 148-169
Author(s):  
V. K. Andreev ◽  
◽  
V. A. Kondratiev ◽  
Keyword(s):  
Civil Rights ◽  
General Meeting ◽  
Business Community ◽  
Positive Law ◽  
State Register ◽  
Business Results ◽  
Starting Point ◽  
Business Entities ◽  
State Registration ◽  
A Company

Introduction. The article examines the features of holding general meetings of members in non-public business companies, in particular questions about the place of decisions of general meeting in the system of legal facts, their relationship with the deal and the contract. The ability to use digital technology in decision making. Theoretical Basis. Methods. The article is based on an analysis of the norms of positive law, primarily the Civil Code and the Laws on Company Business. Results. The authors conclude that the starting point in the activities of a non-public business company is the acquisition and exercise of their civil rights and the fulfilment of duties, and not a legal relationship that includes civil rights and civil duties as a necessary element. In addition, the decision of a general meeting, despite having many features in common, is not a deal. The decision of a general meeting, acting as an act of individual regulation, is in fact an act of a legal entity, and not a decision of the business community. The authors proposed a classification of decisions of meetings of business entities, depending on the method of their adoption, the possibilities being: the unanimously adoption by all participants of the company; decisions of the meeting of members of a company being adopted by a majority, or a qualified majority, of votes; decisions of the meeting of members of a company to change its charter, reorganization and liquidation of the company, requiring state registration in the unified state register of legal entities. The decision of a general meeting can be made either in person or in absentia, or a combination of the two. The decision of the meeting adopted in absentia will be valid, despite the absence of any special document establishing the procedure for its adoption. Discussion and Conclusion. Decisions of general meetings are actions of participants in a business company concerning legal consequences, including civil rights and obligations, in cases specified by law, and binding on all persons entitled to participate in the meeting, as well as other persons, whether required by law or having some other involvement.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

Twin Peaks Regulation After the Global Financial Crisis: A Reform Model for China?

2017 ◽  
Vol 8 (3) ◽  
Author(s):  
Miao Han
Keyword(s):  
Financial Crisis ◽  
Central Bank ◽  
Financial Services ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Relevant Literature ◽  
Twin Peaks ◽  
The Global Financial Crisis ◽  
Peak Model ◽  
Twin Peak

AbstractThe global financial crisis (GFC) has been defined as the worst financial crisis after the Great Depression of the 1930s. Reforms underway, as well as debates in discussion, revolve around both regulatory philosophy and approaches towards better supervisory outcomes. One of the most radical institutional reforms took place in the United Kingdom (UK), where the Twin-Peak model replaced the previous fully integrated regulator – the Financial Services Authority (FSA) under the Financial Services Act 2012. This paper argues that China should also introduce twin peaks regulation, but it is rather based on the resources of risk in its financial sector than the direct GFC challenge. In theory, the core arguments focus on the structure of agencies responsible for prudential regulation and the role played by the central bank as well. The Twin-Peak model has been further examined in terms of regulatory objectives and instruments. By method, this paper is a country-specific comparative study; Australia, the Netherlands and the UK are selected to represent different Twin-Peak models. This paper contributes to the relevant literature in two main aspects. First, it has displayed the principal pattern of the Twin-Peak model after detailing the case studies, including the relationship involving in two regulators, central bank and finance minister in particular. Based on this, second, it becomes possible to design a very specific model to reform China’s current sector-based financial monitoring regime. As far as the author knows, until end-2015, this is the first paper which has proposed such a particular model to China. It is argued that the appropriate institutional structure of market regulation should fit well in with a country’s financial market. Accordingly, the Twin-Peak model will be able to balance the regulatory tasks for the over-concentrated risk in China’s large banking sector but the underdeveloped securities market. Even though, regulatory independence will continue to be challenged.

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 Demonetisation Impact over Banking Loans & Advances: A Case Study

2019 ◽  
Vol 7 (4) ◽  
pp. 51-64
Author(s):  
Narsaiah Neralla
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Study Data ◽  
Ecosystem Dynamics ◽  
Banking Services ◽  
Legal Tender ◽  
The Status ◽  
The Government ◽  
Case Study Data

The demonetisation footstep by the Government of India twisted complicated influences in the economy. Complete sectors of the economy had faced and produced mixed sensation results over the decision of demonetisation. India’s financial services struggled with demonetisation; on the other hand demonetisation affects utmost over the banking sector because it is substantial influenced services to transform money circulation in an Indian economy. Eradicating components of currency notes from circulation in an economy is demonetisation. It is as the processes of components of money are denied the status of legal tender. Consequently, ceased currency notes will not be account as valid currency in an economy. The term ‘demonetization’ is an instrument to shrink Inflation, Black Money, Corruption and terror funding, this step discourages a cash dependent economy in India. Government of India drive towards demonetisation has given a strong push to the popularity of digital banking and made helps with the alternative arrangements of e-banking and e –wallet to trade and commerce. Exploring the demonetisation emergence in an economy and impact on banking services ecosystem dynamics, this study take an abductive approach anchored in over 4 years of case study data regarding. The present study foremost intention is to be analysing the demonetisation impact over banking loans and advances. In this regard the present study is to be examining the pre demonetisation and post demonetisation period.

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