THE EXISTENCE OF THE ROLE OF FINANCIAL SERVICES AUTHORITY INSTITUTIONS IN HANDLING FINANCIAL TECHNOLOGY CRIMES

Abstract

Changes in people's lifestyles as a result of developments in information technology have also brought changes to the world of financial administration, including to lending institutions. This is demonstrated by the presence of fintech. The progress of the digital financial world, including fintech institutions in Indonesia, has not been matched by adequate legal policies in terms of regulating online loans by fintech. This has given rise to various problems, including criminal cases committed by means of fraud and threats made by means of fintech institutions and online loans. In this regard, the OJK, which is the authorized institution for handling fintech issues that lead to criminal matters, is not yet optimal. This doctrinal article intends to discuss issues related to the existence of the role of the Financial Services Authority in handling financial technology crimes. Based on existing studies, it was found that the OJK, which is the party responsible for fintech criminal matters, has not been able to supervise and protect fintech users. This is the basis for the need to make formulations related to supervision and prosecution through criminal law specifically against financial technology institutions that are illegal and commit acts against the law in a real way, where the law enforcement agency is the OJK in partnership with the judiciary. OJK must also be able to issue laws and regulations that are able to protect the public from the dangers of Fintech.