Analysis of Snare of Law for “Pay Day Loan” Providers According to Indonesian Criminal Law

DOI

10.2991/assehr.k.211223.121How to use a DOI?

Keywords

Pay day loan; Lender; Borrower

Abstract

Financial Services Managers have been regulated in Law Number 21 of 2011 concerning the Financial Services Authority (OJK Law). The goal is to grow the country’s economy by providing opportunities for financial service managers who are able to carry out activities to grow the national economy in a sustainable manner and protect the interests of consumers. Unfortunately, there are many illegal financial service managers who harm consumers by providing loans in the form of high interest Payday Loans, non-transparent administrative management and a random collection system to the numbers listed in the borrower’s contact list using swear words that are not worth hearing. This issue is crucial because the government has not been able to protect Borrowers properly, considering that the Financial Services Authority (OJK) and the Investment Alert Task Force in charge of overseeing the management of financial services are only entitled and obliged to handle legal financial services managers and even then can only withdraw their permits. Therefore Lander should be charged with the provisions of the Criminal Law as regulated in the Criminal Code concerning Fraud, Extortion and defamation. If the money lent is proven to be the proceeds of crime, Lander can also be charged with the Crime of Money Laundering.

Copyright

© 2021 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Pudji Astuti
PY  - 2021
DA  - 2021/12/24
TI  - Analysis of Snare of Law for “Pay Day Loan” Providers According to Indonesian Criminal Law
BT  - Proceedings of the International Joint Conference on Arts and Humanities 2021 (IJCAH 2021)
PB  - Atlantis Press
SP  - 701
EP  - 705
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211223.121
DO  - 10.2991/assehr.k.211223.121
ID  - Astuti2021
ER  -