Consumer Protection in The Digital Era: Analyzing Legal Gaps in Online Lending
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Abstract
This article aims to analyze regulatory gaps and weaknesses in consumer protection in online lending (fintech lending) practices in Indonesia, particularly regarding legal protection, personal data security, contract transparency, and law enforcement mechanisms. The main gap lies in the suboptimal integration of legal norms governing consumer protection, fintech oversight, and digital data governance, resulting in legal uncertainty, consumer vulnerability to data misuse, excessive interest rates, and intimidating debt collection practices. This research uses a doctrinal study method with an analysis of national regulations and a comparison of international regulatory frameworks to evaluate the adequacy and effectiveness of existing policies. The study results show that although Indonesia has regulations such as the Consumer Protection Law, POJK No. 77/2016, and the Personal Data Protection Law, their implementation remains weak due to limited oversight capacity, legal fragmentation, and low public digital literacy. This condition results in difficulties in prosecuting illegal lenders and rampant violations of consumer rights. Therefore, comprehensive regulatory reformulation, increased digital forensics and cross-border investigation capacity, strengthened sanctions for violators, and public education are needed to create a fairer, more transparent, and more sustainable digital lending ecosystem
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How to Cite
Wahyu Hengky Saputro, Fery Irawan Febriansyah, & Yogi Prasetyo. (2026). Consumer Protection in The Digital Era: Analyzing Legal Gaps in Online Lending. Padjadjaran Journal of International Law, 10(1). https://doi.org/10.23920/pjil.v10i1.2597
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This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Agustin, Grisvia. “The Rise of Financial Technology and Its Credit Risk in Indonesia.” IJAFAP: International Journal of Accounting & Finance in Asia Pasific 6, no. 2 (2023): 98–109.
Alaassar, Ahmad, Anne-laure Mention, and Tor Helge Aas. “Technovation Exploring a New Incubation Model for FinTechs: Regulatory Sandboxes.” Technovation 103 (2021): 102237.
Albenjasim, Salah, Tooska Dargahi, Haifa Takruri, and Rabab Al-zaidi. “FinTech Cybersecurity Challenges and Regulations: Bahrain Case Study.” Journal of Computer Information Systems 64, no. 6 (2024): 835–51.
Amri, Ahmad Ihsan, and Nynda Fatmawati. “Criminal Liability of Online Money Lenders.” Ius Positum: Journal of Law Theory and Law Enforcement 2, no. 1 (2023): 122–31.
Anggono, Alexander, Tarjo, and Moh. Riskiyadi. “Cybercrime and Cybersecurity at Fintech: A Systematic Literature Review.” JMO: Jurnal Manajemen Dan Organisasi 12, no. 3 (2021): 239–51.
Anggraeni, R.R. Dewi, and Annissa Rezki. “Fintech Regulations and Oversight of the Financial Services Authority in Indonesia.” Advances in Social Science, Education and Humanities Research 584, no. ICORSH 2020 (2021): 601–6.
Annas, Muhammad, and Muhamad Anwar Ansori. “Problems in Determining Interest in Peer-to-Peer Lending in Indonesia.” Jurnal Media Hukum 28, no. 1 (2021): 102–16.
Arini, Annisa Dian. “Legal Literature Review of Peer to Peer Lending in Indonesia: Building Sharia FinTech Ecosystem.” Az-Zarqa’ : Jurnal Hukum Bisnis Islam 16, no. 1 (2024): 36–55.
Arkanuddin, Mohammad Fahmi, Ferdinand D. Saragih, and Bernardus Yuliarto Nugroho. “The Key Role of the Financial Regulation in FinTech Ecosystem: A Model Validation.” Studies of Applied Economics 39, no. 12 (2021): 1–16.
Astutik, Sri, and Irawan Soerodjo. “The Role of The Financial Services Authority in Setting the Interest Rate For Financial Technology Loans As Consumer Protection of Financial Services.” Yuridika 38, no. 2 (2023): 431–42.
Casino, Fran, Claudia Pina, Pablo López-aguilar, Agusti Solanas, Constantinos Patsakis, and Edgar Batista. “SoK: Cross-Border Criminal Investigations and Digital Evidence.” Journal of Cybersecurity 8, no. 1 (2022): 1–18.
Cho, Man, and Soojin Park. “Financial Consumer Protection in the Era of Digital Transformation: A Critical Survey of Literature and Policy Practices.” KDI School of Pub Policy & Management Paper, no. DP21-04 (2021): 1–53.
Furqanita, Jihan Ayuzein, and Agus Suwandono. “Pertanggungjawaban Penyelenggara Fintech Peer to Peer Lending Terhadap Kerugian Konsumen Berdasarkan POJK Penyelenggaraan Layanan Konsumen Dan Masyarakat Di Sektor Jasa Keuangan.” Acta Diurnal: Jurnal Ilmu Hukum Kenotariatan Fakultas Hukum Unpad 4, no. 2 (2021): 279–94.
Garcia, Ana Cristina Bicharra, Marcio Gomes Pinto Garcia, and Roberto Rigobon. “Algorithmic Discrimination in the Credit Domain: What Do We Know About It?” AI & Society 39, no. 4 (2024): 2059–98.
Gomber, Peter, Jascha-Alexander Koch, and Michael Siering. “Digital Finance and FinTech: Current Research and Future Research Directions.” Journal of Business Economics 87, no. 5 (2017): 537–80.
Gumilar, Desy Wulan Ayuning, Khresna Bayu Sangka, and Salman Alfarisy. “Digital Financial Literacy and Digital Financial Inclusion in the Era of Digital Disruption: Systematic Literature Review.” FJMR: Formosa Journal of Multidisciplinary Research 3, no. 5 (2024): 1563–76.
Ha, Dao, Phuong Le, and Duc Khuong Nguyen. “Financial Inclusion and Fintech: A State-of-the-Art Systematic Literature Review.” Financial Innovation 11, no. 69 (2025): 1–42. https://doi.org/10.1186/s40854-024-00741-0.
Hasan, Morshadul, Ariful Hoque, Mohammad Zoynul, and Dominic Gasbarro. “FinTech and Sustainable Development : A Systematic Thematic Analysis Using Human- and Machine-Generated Processing.” International Review of Financial Analysis 95 (2024): 103473.
Hatamia, Raka Fauzan, Elisatris Gultomb, and Anita Afriana. “Penegakan Hukum Terhadap Perusahaan Financial Technology P2P Lending Dalam Kegiatan Penagihan Pinjaman Uang Yang Melanggar Asas Perlindungan Konsumen Dikaitkan Dengan Hukum Perlindungan Konsumen.” Acta Diurnal: Jurnal Ilmu Hukum Kenotariatan 2, no. 2 (2019): 156–71.
Kálmán, János. “The Role of Regulatory Sandboxes in FinTech Innovation: A Comparative Case Study of the UK , Singapore , and Hungary.” Fintech 4, no. 26 (2025): 1–16.
Ko, Dong Won. “Policy Framework for Financial Consumer Protection in Korea: Focusing on the Financial Consumer Protection Act of 2020.” The International Review of Financial Consumers 2, no. 2 (2021): 1–10.
Kozodoi, Nikita, Johannes Jacob, and Stefan Lessmann. “Fairness in Credit Scoring: Assessment, Implementation and Profit Implications.” European Journal of Operational Research 297, no. 3 (2022): 1083–94.
Krafft, Tobias D., Katharina A Zweig, and Pascal D. König. “How to Regulate Algorithmic Decision-Making: A Framework of Regulatory Requirements for Different Applications.” Regulation & Governance 16, no. 1 (2022): 119–36.
Kurniawan, Kukuh Dwi, Deassy J.A. Hehanussa, Rahmat Setiawan, Indah Susilowati4, Sopian, and Desmarani Helfisar. “Criminal Sanctions and Personal Data Protection in Indonesia.” Lex Publica 11, no. 27 (2024): 221–47.
Lanotte, Michele, and Maurizio Trapanese. “Financial Intermediation and New Technology: Theoretical and Regulatory Implications of Digital Financial Markets.” Bank of Italy Occasional Paper 758 (2023): 1–44.
Mahmud, Khaled, Mahbubul Alam Joarder, and Kazi Muheymin-us-sakib. “Adoption Factors of FinTech: Evidence from an Emerging Economy Country-Wide Representative Sample.” International Journal of Financial Studies 11, no. 9 (2023): 1–27.
McCarthy, Jonathan. “The Regulation of RegTech and SupTech in Finance: Ensuring Consistency in Principle and in Practice.” JFRC: Journal of Financial Regulation and Compliance 31, no. 2 (2025): 186–99.
Moromoke, Odunuga Atinuoluwadide, Opeyemi E. Aro, Anthony Oluwagbenga Adepetun, and Oyindamola Iwalehin. “Navigating Regulatory Challenges in Digital Finance: A Strategic Approach.” IRJETS: International Research Journal of Modernization in Engineering Technology and Science 6, no. 10 (2024): 3574–94.
Mulwa, Martina Mutheu, and Umar Yahya. “Review of Digital Lending Models for Financial Inclusion: Challenges, Opportunities, and Way Forward.” European Journal OfBusiness and Management Research 10, no. 2 (2025): 184–91.
Noor, Afif, Haniff Ahamat, Ismail Marzuki, Dwi Wulandari, Akhmad Arif Junaidi, Edy Lisdiyono, and Bakti Trisnawati. “Regulation and Consumer Protection of Fintech in Indonesia: The Case of Islamic Fintech Lending.” Linguistics and Culture Review 6, no. S3 (2022): 49–63.
Noor, Afif, Dwi Wulandari, and Aqila-syarief Muhammad Afif. “Regulating Fintech Lending in Indonesia: A Study of Regulation of Financial Services Authority No. 10/POJK.05/2022.” Qubahan Academic Journal 3, no. 4 (2023): 42–50.
Rahadiyan, Inda, and M. Hawin. “Pengaturan Dan Penerapan Mitigasi Risiko Dalam Penyelenggaraan Peer to Peer Lending Guna Mencegah Pinjaman Bermasalah.” Jurnal Hukum Ius Quia Iustum 27, no. 2 (2020): 285–307.
Rahayu, Rita, Syahril Ali, Amalda Aulia, and Retnoningrum Hidayah. “The Current Digital Financial Literacy and Financial Behavior in Indonesian Millennial Generation.” Journal of Accounting and Investment 23, no. 1 (2022): 78–94.
Rahmawati, Elvia, Miftakhul Huda, and Ian Firstian Aldhi. “Personal Data Misuse in Fintech Lending Providers from Perspective Indonesian Cyberlaw.” ADJ: Airlangga Development Journal 8, no. 1 (2024): 8–20.
Samuel, Yoel, and Ariawan Gunadi. “Establishing Consumer Security within the Peer-To-Peer Lending Ecosystem in Indonesia: A Juridical Analysis.” Awang Long Law Review 7, no. 2 (2025): 359–67.
Sekar A., Oktaviana Ayu, and Rina Arum Prastyanti. “Consumer Rights in the Fintech Lending Era Amid Legal Challenges of a Borderless World.” International Journal of Law and Society 2, no. 3 (2025): 253–65.
Shalmont, Jerry, Grace Iskandar Darmawan, and Dora Dominica. “Manajemen Dan Mitigasi Risiko Lender Peer-To-Peer Lending Pasca Diundangkan POJK 10/2022.” Jurnal Hukum & Pembangunan 53, no. 1 (2023): 85–112.
Subagiyo, Dwi Tatak, Lorensia Resda Gestora, and Sulistiyo. “Characteristic of Illegal Online Loans in Indonesia.” Indonesian Private Law Review 3, no. 1 (2022): 63–76.
Suryono, Ryan Randy, Indra Budi, and Betty Purwandari. “Heliyon Detection of Fintech P2P Lending Issues in Indonesia.” Heliyon 7, no. 4 (2021): e06782.
Syahputra, Bearlly Deo, and Nurul Fibrianti. “Independent Authority on Personal Data Protection in Illegal Financial Technology: Capturing Peer-to-Peer (P2P) Lending Issues.” Journal of Private and Commercial Law 8, no. 1 (2024): 113–35.
Syailendra, Moody Rizqy, Gunardi Lie, and Amad Sudiro. “Personal Data Protection Law in Indonesia: Challenges and Opportunities.” Indonesia Law Review 14, no. 2 (2024): 56–72.
Syaufi, Ahmad, Mursidah, Aurora Fatimatuz Zahra, and Fatham Mubina Iksir Gholi. “Employing Forensic Techniques in Proving and Prosecuting Cross-Border Cyber-Financial Crimes.” International Journal of Cyber Criminology 17, no. 1 (2023): 85–101.
Vijayagopal, Preethi, Bhawana Jain, and Shyam Ayinippully Viswanathan. “Regulations and Fintech: A Comparative Study of the Developed and Developing Countries.” Journal of Risk and Financial Management 17, no. 324 (2024): 1–23.
Widyastuti, Umi, Dwi Kismayanti Respati, Vera Intanie Dewi, and Abdul Mukti. “The Nexus of Digital Financial Inclusion, Digital Financial Literacy and Demographic Factors: Lesson from Indonesia Demographic Factors: Lesson from Indonesia.” Cogent Business & Management 11, no. 1 (2024): 2322778.
Wiwoho, Jamal, Dona Budi Kharisma, and Dwi Tjahja K. Wardhono. “Financial Crime in Digital Payments.” Journal of Central Banking Law and Institutions 1, no. 1 (2022): 47–70.
Wolff, Josephine, and Nicole Atallah. “Early GDPR Penalties: Analysis of Implementation and Fines Through May 2020.” Jounal of Information Policy 11 (2021): 63–103.