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All Journal POLITICA: Jurnal Hukum Tata Negara dan Politik Islam Syura: Journal of Law
Michael T. Sacramed
Mariano Marcos State University
Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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Gamified Investment Apps and the Principle of Neutrality: A Comparative Legal Analysis of In-App Rewards and Badges in Indonesia, Malaysia, and the Philippines Lu Sudirman; Nadia Carolina Weley; Michael T. Sacramed; Antony Antony; David Tan
Politica: Jurnal Hukum Tata Negara dan Politik Islam Vol. 13 No. 1 (2026): Politica: Jurnal Hukum Tata Negara dan Politik Islam
Publisher : Prodi Tata Negara (Siyasah) IAIN Langsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32505/politica.v13i1.15223

Abstract

This study aims to examine whether in-app rewards and badges in investment applications constitute inducements or remain neutral engagement features, while assessing the adequacy of the legal frameworks in Indonesia, Malaysia, and the Philippines in addressing this issue. The research employs a doctrinal legal method with a comparative approach, analyzing statutes, regulations, and legal principles related to investment law, consumer protection, and financial services regulation in the three jurisdictions. The study also draws on relevant literature concerning gamification, investor behavior, and digital financial services to identify the normative position of app-based rewards and badges within the broader legal context. The findings show that in-app rewards and badges are not inherently neutral because they are designed to increase engagement, usage frequency, and trading activity among users. Although these features are not necessarily unlawful, they may function as subtle behavioral inducements that influence investor decision-making, particularly among novice retail investors. The comparative analysis reveals that the Indonesian legal framework contains limited and indirect provisions that may apply to such features, but it lacks a specific principle of neutrality for investment app design. Malaysia provides relatively broader consumer and capital market protections, yet still does not expressly regulate gamified inducements in investment apps. The Philippine framework similarly focuses on misleading statements and disclosure obligations, leaving a gap in addressing psychological manipulation through gamification. Overall, the study finds that the current legal frameworks in all three countries are not fully equipped to regulate the subtle but potentially harmful effects of gamification in investment applications. Therefore, the study recommends the incorporation of a limited neutrality principle for investment app providers, especially regarding features that may operate as inducements rather than genuine engagement tools.
Regulatory Gaps in Data Protection and Proportionality in Digital Banking: Legal Issues in ASEAN Agustianto Agustianto; Michael T. Sacramed; Winda Fitri; Nadia Carolina Weley; Hari Sutra Disemadi
Syura: Journal of Law Vol. 4 No. 1 (2026)
Publisher : Sekolah Tinggi Agama Islam (STAI) Darul Ulum Banyuanyar Pamekasan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58223/syura.v4i1.811

Abstract

This study examines the legal gaps in regulating data proportionality in ASEAN digital banking, particularly in Indonesia, the Philippines, and Malaysia. The main legal issue lies in the absence of clear standards governing the limitation, justification, and classification of personal data, which leads to excessive and potentially invasive data processing practices in digital banking systems. This research aims to examine the concept of data proportionality in digital banking and to assess the adequacy of legal frameworks governing data proportionality in Indonesia, the Philippines, and Malaysia in order to identify existing regulatory gaps. This study employs a normative legal research method with a comparative approach. The findings reveal that although all three countries have established data protection frameworks, none comprehensively integrate data proportionality into digital banking regulations, resulting in fragmented and ineffective legal protection. Indonesia lacks detailed standards and risk-based mechanisms, while the Philippines and Malaysia show regulatory gaps in governing conventional digital banking services. These weaknesses contribute to increased risks of privacy violations and legal uncertainty. Therefore, this study suggests the need for regulatory reform, including clearer data classification, proportionality standards, and mandatory risk assessments, to ensure a balance between digital banking innovation and the protection of consumer privacy rights.
Co-Authors Agustianto Agustianto, Agustianto Antony Antony Disemadi, Hari Sutra Fitri, Winda Lu Sudirman Nadia Carolina Weley Tan, David