Imron, Ali (2021) OJK'S ROLE and IMPLEMENTATION IN ERADICATING ILLEGAL FinTec PRACTICES. Social Science Research Network. ISSN 1556-5068

Text OJK-4_OJK'S ROLE.pdf - Published Version Download (155kB)

Abstract

Service Authority Finance (OJK) is an independent institution that holds the highest authority so that it gets the transfer of regulatory and supervisory functions to all financial institutions and financial businesses in Indonesia. This makes the fintech system oversight within the OJK where financial technology (fintech) is an innovation that is revolutionizing financial services. Through the use of technology, business models become more modern. Fintech is a fast-moving and dynamic industry. In 2019, on the OJK official website, there were 25 fintech industries registered and licensed by the OJK. Several aspects urge the proliferation of illegal fintech in the form of P2P lending in Indonesia, which after that can be categorized into 2 aspects: normative aspects and non-normative aspects. OJK does not have special authority to take action against illegal fintech P2P lending. Due to these limitations, after that, an Investment Alert Task Force (SWI) was formed which was located at the base of OJK supervision. SWI was built to avoid and overcome alleged unlawful actions in the field of fundraising and investment management, including fundraising and investment management that was attempted through the fintech platform.

Actions (login required)

View Item