PROTECTION OF FUNDERS IN P2P LENDING FAILURE CASES REVIEWED FROM POJK NUMBER 10/POJK.05/2022
Abstract
ABSTRACT
Peer-to-Peer Lendingor Information Technology-Based Joint Funding Services (LPBBTI) are already familiar to the public. This Peer-to-Peer Lending service is a breakthrough product from the Financial Technology revolution 3.0 and 3.5. In Indonesia, the Peer-to-Peer Lending service is an alternative for the public to get credit without going through banking services and is also an option for investment. The increasing number of smart phone users (smartphones) also makes the users of this service more and more. The Peer-to-Peer Lending service itself in its activities is directly supervised by the Financial Services Authority. The convenience provided by this service is attractive to investors and people who need credit. This service can be accessed without knowing the boundaries of the region and time because it is based on technology. In its activities, there are three parties involved, namely LPBBTI organizers, funders, and recipients of funds. The parties involved in this service have their own goals. In the course of this service there is the possibility of a default occurring which will be detrimental to the donor. If a default occurs, the LPBBTI organizer has an obligation to help the beneficiary resolve the problem. Because there has been a default which is detrimental to the donor, of course there must be protection provided both to prevent default and when default has occurred. In the course of this service there is the possibility of a default occurring which will be detrimental to the donor. If a default occurs, the LPBBTI organizer has an obligation to help the beneficiary resolve the problem. Because there has been a default which is detrimental to the donor, of course there must be protection provided both to prevent default and when default has occurred.
Keywords: Peer-to-Peer Lending; Financial Services Authority; Legal protection; Default.
References
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