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All Journal The Digest: Journal of Jurisprudence and legisprudence Outline Journal of Community Development International Journal for Advanced Research
Leni Indrayani
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Legal Protection for Fintech Consumers Trapped in Debt Due to High Interest (Illegal Loans) Chairus Suryati; Debi Masri; Leni Indrayani; Juliya Maria; Sattar Rasul
International Journal of Advanced Research Vol. 2 No. 1: June 2025
Publisher : Outline Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61730/m0wm7x59

Abstract

The rapid development of financial technology (fintech) has increased public access to financial services, especially through online lending platforms. However, this advancement also brings significant legal challenges, particularly in consumer protection. Many individuals have become trapped in debt due to exorbitant interest rates imposed by illegal lenders operating without official licenses and often engaging in abusive collection practices. This research aims to analyze the legal protection available to fintech consumers victimized by illegal high-interest lending and to evaluate the effectiveness of existing regulations, including POJK 77/2016 and other consumer protection frameworks. The study employs a normative juridical approach with qualitative analysis of legislation, court decisions, and case studies. The findings reveal that the current legal framework is insufficient in providing both preventive and repressive protection for consumers. Weak oversight of illegal fintech operators and low financial literacy among the public are key factors behind the ineffectiveness of consumer protection. Regulatory reform, stricter law enforcement, and public education are urgently needed to ensure comprehensive protection for fintech consumers.
Co-Authors Ahmad Braja Wahyu Aripin Rambe Chairus Suryati Debi Masri Faziatul Amillia Mohamad Basir Julia Maria Juliaya Maria Juliya Maria Junaidi Lubis Melky Suhery Simamora Muammar Rinaldi Muhammad Irwansyah Muhammad Konginta Lubis Muhammad Rifky Wahyadi Mutmainah Nur Qoiri Salim Sattar Rasul