The Internet as part of technological development has a great impact on our lives. The Internet makes it easy to access information on computers, laptops, smartphones, and more. Even with the advent of the Internet, the world seems to have no borders. Gradually, the role of the Internet has become a necessity that cannot be separated from humans.
Internet usage has also permeated the economic, business, and financial spheres. For example, mobile banking, Ovo, Gojek, Grab. Innovations in payment processing, shipping, logistics and transportation. Other developments that have contributed to the revitalization of the digital age include digital financial innovation and information technology-based lending (fintech peer-to-peer lending). The topic covered in this white paper is the proliferation of online/loan loan offerings.
Currently, lenders are providing money lending services intensively. Market strategies followed by lenders include low interest rates, hassle-free requirements, loan sizes from IDR 500,000 to millions of rupiahs, no collateral, and no face-to-face meetings between borrowers and lenders. The many advantages of these loans make them very attractive compared to traditional money loan offerings (financial service providers and financial institutions).
Easy access to credit information. Simply tap the website on your smartphone to display loan information. Some smartphone users tend to ignore incoming messages/notifications from unknown numbers regarding credit offers. Some are more interested in the products on offer. Also, some people are having trouble receiving emails from unknown numbers.
The simplicity of the offer by the borrower is not as sweet as the reality. As evidence, some borrowers feel trapped. You may even be suspected of breaking the law. B. Acts of intimidation, transmission of obscene images, defamation, data manipulation, eavesdropping and dissemination (unauthorized access) of personal data without the borrower's knowledge. Of course, this causes anxiety in the community. Especially when both the lending service community and users become victims.
Among the many reports of loan shark victims, one of them has filed a complaint with her Ombudsman's office in Indonesia, representing South Kalimantan. Previously, the victim was a user who charged her services for virtual products from the Shopintar application and credited her online from the Smart Credit application.
Victim protested because of her four deposits to Shopintar service. However, some transactions were not processed. Victims were also surprised when they received smart credit billing notifications for debts from credit transactions made through the Shopintar application. In the end, the victim was also upset about the incident. Victim, on the other hand, has complained to Shopintar Application (CS) customer his service.
Victims have also filed complaints with OJK Regional 9 Kalimantan about the matter. However, it is not certain what will happen after the victim issue. In terms of OJK's mandate regarding digital financial innovation in the financial services sector, this is regulated by POJK No. 13/POJK.02/2018. Meanwhile, information technology based lending regulations are included in POJK No. 77/POJK.01/2016. OJK's mandate is closely related to the regulation and supervision of financial services activities in the insurance sector, pension funds, financial institutions and other financial services institutions.
In particular, OJK has the authority to monitor the disbursement of registered loans. According to OJK publication data, as of August 7, 2019, 127 companies are registered. Oversight of OJK refers to the Organizer's obligation to electronically submit periodic reports, both monthly and annual, to OJK. This includes reporting user complaints with follow-up complaint resolution.
So what is his OJK role in relation to victim reporting?Credits are granted online from a smart credit application involving 127 registered businesses. OJK may also conduct supervision according to POJK No. 77/Pojk.01/2016. But what about companies with illegal status? OJK does not have the authority to monitor illegal loans.
Also, the ban on registered money lenders is nothing more than an administrative disposition. both in the form of warnings, fines, restrictions on business activities, and withdrawal of licenses. As for monitoring illegal loans, the government handed it over by forming the Investigative Alert Task Force (SWI) in partnership with the Ministry of Communications and Information (Kemenkominfo).
Quote from Cnbcindonesia.com Daily: From 2018 to October 2019, 1,477 SWIs took action (blocks) due to outbreaks of illegal lending. This means that there is a huge public demand for online loans and credit.Of course, this is homework for the government to create a legal framework for implementing loans. This legal regulation at the level of law is absolutely necessary.
Lack of regulation creates a legal vacuum. In addition, in executing loans, illegal acts such as threats, transmission of obscene images, defamation, falsification of data, interception and dissemination of personal information (unauthorized access) are likely to be carried out without the knowledge of the borrower.
The law, on the other hand, is always lagging behind. Enforcement of claims related to criminal law is based on Law No. 19/2016 amending Law No. 11/2008 on Criminal Law and Information and Electronic Transactions. However, the implementation is still lacking. The scope of criminal law cannot include all criminal acts in making loans. Credit traps have been imposed for suspected crimes in the form of disclosure of personal information, threats of billing, fraud, defamation, and electronic media sexual harassment.
The government should pay more attention to disbursement of loans through parliament. A credit agreement requires a policy. This legislative amendment is necessary to enact special rules for credit execution in view of the ever-developing technology and information of electronic payments.