- A solution to the issue of legal violations which are committed by Peer-to-Peer Lending companies (“P2P Lending”) was not found by the Financial Services Authority (“OJK”) and the Jakarta Legal Aid Institute (“LBH Jakarta”) during a meeting which was held on Friday, 14 December 2018.
- Jeanny Silvia Sirait, a public defender from LBH Jakarta, argued that LBH Jakarta was still reluctant to forward public complaints which they had solicited regarding P2P Lending practices to the OJK. LBH Jakarta has taken this stance as the organization believes that the OJK has to date not been serious in dealing with this issue and has instead shifted the burden to consumers. Moreover, the data concerned is generally considered confidential.
- Responding to this criticism, the OJK is claiming that it is ready to impose sanctions upon any P2P Lending which engages in illegal practices, either in the form of reprimands, fines, limitations placed upon business activities and even license revocations. However, the OJK has also admitted that investigating such cases will not prove easy, as digital forensic services will be required in order to track illicit activities.
- For more on this story, see Hukumonline: “Jalan Buntu Antara OJK-LBH Jakarta Atasi Dugaan Pelanggaran Hukum Fintech”.
......
Subscribe to read more legal analysis.
Hukumonline Pro Intelligence
Platform AI hukum terpercaya sebagai solusi komprehensif riset Anda
*Syarat dan ketentuan berlaku
Ada Pertanyaan? Hubungi Kami 
Professional Solutions
University Solutions
Pro
My Workspace
Pro AI
Terfavorit
Allex QnA
Pro Compliance
