DOI: 10.36347/sjahss.2021.v09i06.011

Pages: 281-287

This study aims to determine the legal protection of customers related to financial technology-based online lending services based on the Financial Services Authority Regulation Number 77/POJK.01/ 2016 concerning Information of Borrowing and Lending Services Utilizing Information Technology Basis. This research is a normative juridical research. In this study, the source of legal materials utilized consists of 3 (three) legal materials, namely primary, secondary and tertiary legal materials. The technique of collecting legal materials using a literature study model is in the form of a qualitative descriptive content analysis. The results shows that legal protection for customers related to financial technology-based online fund lending services based on the Financial Services Authority Regulation Number 77/POJK.01/2016 concerning Information of Borrowing and Lending Services Utilizing Information Technology Basis consists of preventive legal protection, which is reviewed from the Financial Service Authority Regulation Number 77/POJK.01/2016 concerning Information of Borrowing and Lending Services Utilizing Information Technology Basis. The regulation covers (1) risk mitigation, (2) management of information technology systems, (3) information technology loans, (4) loan services, (5) technology-information-based loans, (6) borrower education and protection, (7) customer principles, (8) technical specifications, and (8) prohibitions on service delivery. Technology-based loans, credit, and periodic reports must be submitted to the Financial Services Authority. Furthermore, there is repressive legal protection by imposing administrative sanctions on the providers in the form of written warnings, fines, restrictions on business activities, and license revocation.