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The Financial Services Authority Supervision To Financial Technology Peer-To-Peer Lending In Relation To Consumer Rights In Aceh

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Abstract

Discussion: Bank of Indonesia Regulation Number 19/12PBI/2017 on Financial Technology defines Financial Technology (fintech) as the technology-based financial system that develops products, services, technologies, and new business models. Fintech also influenced the monetary stability, financial system stability, efficiency, continuity, safety, and reliability of the payment system. As the borrower to peer-to-peer (P2P) lending, consumers have the rights for legal protection in the form of contract, debt counselling, protection against interest rate fluctuation, and other additional fees. Consumer Protection for technology-based lending services is regulated in Article 1 Act Number 8 the Year 1999 on Consumer Protection; Article 1 BI Regulation Number 19/12PBI/2017; and Article 4 to Article 26 Financial Services Authority (OJK) Number 77/PJOK.01/2016. In P2P lending, there are several issues that the debtors faced: the increasing number of illegal fintech companies, debt collection via intimidation, high-interest rate, and personal data misuse. Article 26 OJK Regulation Number 77/PJOK.01/2016 states that the financial services providers must protect the privacy and confidentiality of consumer’s data. Article 6 to Article 8 explains that if a P2P company is not registered in OJK, such company will be perceived as illegal. During debt collection, The Indonesia Fintech Association (AFI) Code of Conduct required all of the P2P companies to promote goodwill. Research Method: This study utilizes juridical empirical research through a qualitative approach. A qualitative approach is a method of analysis that delivers descriptive data analysis—data from respondents which can be in writing, oral, or subject’s behaviours that are studied as a whole. The data were received from respondents and informants. This research refers to Act Number 8 the Year 1999 concerning Consumer Protection and Financial Service Authority Regulation Number 77/PJOK.01/2016 concerning Financial Technology Peer-to-Peer Lending. Conclusion: Key Word: fintech, Consumer Protection, Financial Services Authority.
IOSR Journal of Humanities And Social Science (IOSR-JHSS)
Volume 25, Issue 7, Series 13 (July. 2020) 22-26
e-ISSN: 2279-0837, p-ISSN: 2279-0845.
www.iosrjournals.org
DOI: 10.9790/0837-2507132226 www.iosrjournals.org 22 |Page
The Financial Services Authority Supervision To Financial
Technology Peer-To-Peer Lending In Relation To Consumer
Rights In Aceh
Indra Budiman1, Sri Walny Rahayu2, , Iman Jauhari3
1(LawFaculty, Syiah Kuala University,Banda Aceh,Indonesia)
2(LawFaculty, Syiah Kuala University,Banda Aceh, Indonesia)
3(LawFaculty, Syiah Kuala University,Banda Aceh, Indonesia)
Abstract:
Discussion: Bank of Indonesia Regulation Number 19/12PBI/2017 on Financial Technology defines Financial
Technology (fintech) as the technology-based financial system that develops products, services, technologies,
and new business models. Fintech also influenced the monetary stability, financial system stability, efficiency,
continuity, safety, and reliability of the payment system. As the borrower to peer-to-peer (P2P) lending,
consumers have the rights for legal protection in the form of contract, debt counselling, protection against
interest rate fluctuation, and other additional fees. Consumer Protection for technology-based lending services is
regulated in Article 1 Act Number 8 the Year 1999 on Consumer Protection; Article 1 BI Regulation Number
19/12PBI/2017; and Article 4 to Article 26 Financial Services Authority (OJK) Number 77/PJOK.01/2016. In
P2P lending, there are several issues that the debtors faced: the increasing number of illegal fintech companies,
debt collection via intimidation, high-interest rate, and personal data misuse. Article 26 OJK Regulation Number
77/PJOK.01/2016 states that the financial services providers must protect the privacy and confidentiality of
consumer’s data. Article 6 to Article 8 explains that if a P2P company is not registered in OJK, such company
will be perceived as illegal. During debt collection, The Indonesia Fintech Association (AFI) Code of Conduct
required all of the P2P companies to promote goodwill.
Research Method: This study utilizes juridical empirical research through a qualitative approach. A qualitative
approach is a method of analysis that delivers descriptive data analysisdata from respondents which can be in
writing, oral, or subject’s behaviours that are studied as a whole. The data were received from respondents and
informants. This research refers to Act Number 8 the Year 1999 concerning Consumer Protection and Financial
Service Authority Regulation Number 77/PJOK.01/2016 concerning Financial Technology Peer-to-Peer
Lending.
Conclusion: Presently, consumers of P2P services require the government (or other related-institutions)
immediate attention. The government's failure to provide the necessary education for the public can result in the
consumers’ financial loss. In OJK Regulation Number 1/PJOK.07/2013 concerning Consumer Protection in the
Financial Services Sector, OJK supervision provides legal protection for consumers. However, in terms of
illegal P2P companies, the consumers' legal protection is limited, as OJK does not have the authority to
supervise unlicensed P2P companies. If a P2P company violates a certain rule, OJKcollaborating with the
Minister of Communications and Informationmay remove or block the registered company from their (OJK)
list.
Key Word: fintech, Consumer Protection, Financial Services Authority
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Date of Submission: 11-07-2020 Date of Acceptance: 27-07-2020
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I. INTRODUCTION
Peer to Peer lending (P2P) is a technology-based lending service that connects both lender and
borrower online. The Article 1754 Civil Code states: "A loan for consumption is an agreement, in which one
party provides another with a specific amount of consumable items, with the condition that the latter mentioned
shall return the same types of items of the same amount and quality. Particularly, P2P can be found in OJK
Regulation Number 77/POJK.01/2016 concerning Financial Technology Peer-to-Peer Lending. The P2P is a
type of financial services that joins both the lender and the borrower into creating a loan agreement (in rupiah)
directly through the electronic system and the internet.
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P2P involves two main parties: the lender and the borrower. The lending process does not require a
third party (agent), unlike banks and credit institutions.1There are several kinds of P2P services, for example,
Kredivo, UangTeman, RupiahPlus, TunaiKita, DanaRupiah, KreditCepat, DanaCepat, and RupiahCepat.2The
development of fintech as a technology-based financial services pushes OJKthe regulator and supervisor for
financial services to issue OJK Regulation (POJK) Number 77/POJK.01/2016 concerning Financial
Technology Peer-to-Peer Lending. The regulation imposed the fintech companies to register their companies’ on
OJK. Article 7 POJK states that after the registration, the fintech company will have the license to operate.
However, to optimize fintech roles for Indonesian economic development and financial inclusion, further study,
on how to reach a balance between the ease and flexibility provided by fintech and the consumers' legal
protection, is required. The absence of such balance can potentially damage the public's trust in the financial
system and economic stability. The consumer protection must be ensured, for example, by providing complete
information, benefit, risk, cost, and privacy on the financial services products.3
The Consumer Protection Act is a legal shelter that integrates and strengthens the enforcement of legal
protection for consumers. Moreover, there is always a chance for new regulation on consumer protection to be
developed.4Afterall, Act Number 21 the Year 2011 concerning OJK emphasizes that OJK must protect the
consumers of financial services. In Article 4 OJK Act, OJK is established to ensure that the overall activities in
the financial service sector are:
1. implemented in an organized, fair, transparent and accountable manner;
2. capable of actualising the financial system that grows in a sustainable and stable manner;
3. capable of protecting consumers and public interests.
To achieve its purpose, Article 5 OJK Act explains: “The function of OJK is to establish an integrated
regulatory and supervisory system for all activities in the financial services sector.” The Article shows that OJK
as a supervisor of financial services is closely related to consumer protection, in which consumer protection
becomes the framework for the regulation. Without a reliable and systematic supervision, consumer protection
can not be enforced. Moreover, fintech has been developing at a rapid pace. However, until this paper is
finished, OJK only issued a regulation concerning fintech, which is the OJK Regulation Number
77/POJK’01/2016 on Financial Technology Peer-to-Peer Lending (PJOK LPMUBTI).
Although OJK has regulated the fintech P2P lending, illegal fintech service continues to appear. Such a
problem arises because of the OJK lack of supervision, even though OJK itself has the authority to oversee the
fintech service as not to violate the consumer's rights. In addition, lack of socialization to the public also become
the reason for such violation, as the public have limited understanding concerning fintech services.
Nevertheless, there are four categories of law violations that are highlighted in P2P.
First, the Illegal P2P Companies. Before operating, fintech companies must be licensed from OJK.
Article 7 and Article 8 PJOK LPMUBTI states that the unregistered companies are illegal. Unfortunately, the
number of illegal P2P companies is higher than the registered or licensed companies. OJK, which is part of The
Investment Alert Task Force (Satgas Waspada Investasi) have stopped the activities of 404 illegal P2P
companies.5Consumer protection is strictly regulated in licensed P2P companies. If a dispute happens between
the consumer and the company, the regulator exists as a mediator for both parties. On the other hand, consumers
involved in illegal P2P companies are vulnerable. Lack of supervision provides the opportunity for illegal
companies to infringe on their consumer rights. The violation may be in the form of data theft, high-interest rate,
and intimidation. These are the potential breaches that may always occur as long as illegal P2P companies exist.
Second, Intimidation Tactic. The P2P companies' intimidation tactics are well-known among the
public. The companies frequently use vulgar words and threaten violence for the customer that failed to pay.
The P2P companies are not allowed to intimidate their consumers. As stated in the Indonesian Fintech
Association (AFI) Code of Conduct, all of the fintech companies must promote goodwill during collecting
payment from the borrower.
Third, High-Interest Rate.The high-interest rate becomes an addition to another problem within the
fintech industry.6The P2P companies' advertise the low-interest rate, however, in practice, the fintech industries
employ the high-interest rate, even higher than banks and credit institutions. Previously, OJK mentioned that the
1 Subhan Zein, “Tinjauan Yuridis Pengawasan Otoritas Jasa Keuangan terhadap Aplikasi Pinjaman Dana Berbasis Teknologi (Peer to
Peer Landing/Crowfunding) di Indonesia, Jurnal Bisnis dan Akuntasi Universitas Suryadarma, Vol. 4, No.2, p. 117, 2019.
2https://duwitmu.com/kta/10-pinjaman-online-24-jam/, accessed on February 15, 2020, 17.41 PM.
3 Otoritas Jasa Keuangan, Kajian Perlindungan Konsumen Sektor Jasa Keuangan: Perlindungan Konsumen Pada Fintech, Jakarta:
Cetakan ke 1 Otoritas Jasa Keuangan, 2017, p. 5
4 Az Nasution, Hukum Perlindungan Konsumen, Suatu Pengantar, Jakarta: Diadit Media, 2002, p. 7.
5http://www.harnas.co/2018/12/12/404-fintech-ilegal-dihentikan, accessed on February 18, 2020, 22.31 PM.
6https://www.hukumonline.com/berita/baca/lt5c1c9d0759592/ragam-masalah-hukum-Fintech-yang-jadi-sorotan-di-2018accessed on May 6,
2019, 15.55 PM.
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licensed P2P companies' interest rate had reached 19% per month. On the contrary, the interest in illegal P2P
companies is above the average rate. Moreover, illegal companies can even charge their interest to 2-3% per
day. The interest rate has turned into an issue that shadowed the fintech industry. Therefore, there must be an
appropriate regulation that can accommodate both the consumers and providers interest.
Fourth, Personal Data Misuse. For a layman, debt collection using private data is an unfamiliar
method. Often, when people sign the term of condition, they are unaware of the fact that the P2P company has
access to their data. People frequently assume that it is normal for the lender to use the borrower personal data
for collecting payment. However, the use of personal data for collecting payment becomes a public debate.
Accessing private data may violate the law and disturb another partythat does not have a connection to the
loan. As loan providers may contact the consumer's co-worker and family to collect the payment.
II. MATERIAL AND METHODS
This research is a juridical empirical study, which is empirical or socio-legal research that studies the
law. It studies the law not only as perspective and applied discipline but also as an empiric or legal fact. The
data were collected from respondents and informants, especially the overall responses received when the
researcher thoroughly collected the data.7
III. RESULT
This study aims to understand how the Financial Services Authority (OJK) supervise the technology-
based lending services (P2P) related to consumer rights in Aceh. OJK must protect the consumer rights, as
stated in OJK Regulation Number 1/POJK.07/2013 on Consumer Protection in the Financial Services Sector. To
achieve that purpose, OJK must actively regulate and supervise fintech products without ignoring the aspect of
consumer protection. With the fintech services, there must be discussions on how to balance between the ease
and flexibility of fintech technology and the regulation and consumer protection aspects. Regulators may
supervise P2P by taking into account factors such as safety, consumer protection, services, inclusivity, and risk
mitigation (especially risk of digital technology and cybercrime). Fintech service is a full risk business, because
it mainly involves money-related service. Thus, it must be supported by strict regulations, as an effort to
actualise the healthy practice of P2P companies.8OJK must provide legal protection for every P2P consumer.
Legal protection is justice, created from a rational mind, exercised with just, honesty, and responsibility upon
one's action. The government provides two types of legal protection, which are preventive and repressive. The
legal protection is enforced by the government institutions, in this case, OJK.
Management is established to monitor, apart from planning, organizing, and implementing. Supervision
is an activity that monitors and controls the overall company’s activities, including budget preparation, the
company's activity, records, and reports on the results of its activities. Supervision must become routine or
continuous.9Sujatmo stated that the purpose of supervision is to identify and understand the truth regarding the
activity that becomes the object of supervision, whether it is in accordance or not, as a material for improvement
in the future.10The functions of OJK are to perform the integrated regulation and supervision to the whole
activities in the financial services sector. OJK has the authority to regulate and supervise,11OJK's role in
supervising P2P must be optimized. OJK has the roles as:
a. Financial Services Authority as a Regulator
OJK has a role in regulating the financial technology peer-to-peer lending, as stated in POJK LMUBTI.
The regulation aims to provide a legal foundation for fintech companies in Indonesia. It also protects the
consumers and the public's trustthe potential consumers of P2P companies.
b. Financial Services Authority as a Supervisor
OJK supervises the implementation of regulations relating to fintech P2P lending (PJOK LPMUBTI).
The purpose is to reduce violations related to the consumer protection theory. There are two types of legal effort
that may be enforced by OJK:
7 Mukti Fajar dan Yulianto Achmad, “Dualisme Penelitian HukumNormatif dan Empiris”, Pustaka Pelajar, Yogyakarta, 2009, p. 180.
8 Sari, (A.R), “ Perlindungan Hukum Bagi Pemberi Pinjaman Dalam Penyelenggaran Financial Technonology Berbasis Peer to peer
lending di Indonesia, Jurnal Fakultas Hukum Ekonomi dan Bisnis, Yogyakarta, 2018.
9Kasmir, Bank dan Lembaga Keuangan Lainnya, Jakarta: PT Raja Grafindo Persada, 2014, hlm. 320
10 Sujatmo, Aspek-Aspek Pengawasan Di Indonesia (Cetakan ke 3), Jakarta: Sinar Grafika, 1994, p. 96.
11 Kasmir, Op.Cit, p. 72.
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1). Preventive Effort
OJK implemented preventive effort to prevent any violation. In this situation, OJK summons all of the
P2P services to supervise, educate, and socialize the operation and regulation concerning technology-based
loans. Subsequently, it will increase the lender's understanding of consumer’s rights and provide better
protection for the consumers. Also, lenders need to understand the legal consequences of violating their
consumers’ rights. The higher lender’s understanding will be, the smaller the chance of breaching the rights. For
repressive effort, there are three actions that OJK may perform to improve the regulation regarding P2P lending
in Indonesia:
a). OJK or other related-regulators may impose Trustmark (which can be logo, picture or emblem) in all of the
licensed P2P companies’ website and application (apps). The Trustmark indicates that the companies have
been audited by either the regulator or chosen-third party;
b). implementing digital signature certificates that can authenticate the consumer's identity automatically
through their signature;
c). implementing biometric verification that can identify one or more consumer biological traits, which can be
fingerprints, hand geometry, retina patterns, and sound waves (voices).12
P2P services, as it mitigates potential risk such as fraud, forgery or identity theft, and hacking.
Trustmark have been implemented to protect e-commerce businesses, and now there are several Trustmark
providers.
2). Repressive Effort
To address the unlicensed P2P, as a supervisor, OJK may:
a). Collect and manage information on unregistered P2P companies;
b). after collecting enough information, OJK will be cooperating with the Investment Alert Task Force (task
force created by OJK);
c.) after coordinating with the Investment Alert Task Force, OJK will summon the unlicensed P2P companies
and offer to license their companies. If they refuse, then OJK will stop their services;
d.) if after the summons and warning the unlicensed P2P to keep operating, OJK will issue a letter of
recommendation for the Ministry of Communications and Information to remove and block the application
and services of unlicensed P2P.
With these rules, consumers will feel secure and the enforcement of regulations concerning P2P are
regulated appropriately. This provides protection for consumers to use P2P services. To ensure the optimal
application of regulation and supervision, OJK works independently to create and enforce their duty and
authority, as mentioned in regulation on the financial services sector.13
2. Legal Consequences for Illegal Fintech Company
OJK issued the PJOK LPMUBTI as a response for protection of the P2P consumer from financial
providers, as at that time there was no regulation concerning P2P lending in Indonesia. PJOK LPMUBTI
specifically controls technology-based loan services. Article 7 PJOK LPMUBTI stipulates: “the provider must
register and receive a license from the Financial Services Authority.”, which means that every financial provider
must register and be licensed to start their services. Collected from OJK list per 30 April 2020, there are 161
registered and licensed P2P companies.14In contrast, from July 2018 to March 2020, there are 2402 unregistered
(illegal) P2P companies.15The high number of unregistered P2P companies have become an issue to confront.
The violation will create legal consequences that affect P2P companies. Article 7 PJOK LPMUBTI listed the
legal consequences for not registering and licensing their companies, which are:
a.OJK will not supervise unregistered fintech. If a consumer experiences financial loss, OJK will not be held
responsible. In other words, consumers are responsible for their losses incurred from fintech companies.
b.If a fintech company operates without registering and licensing from OJK, OJK may stop the company's
service.
c.OJK will issue a letter of recommendation to the Ministry of Communications and Information to remove
and ban the fintech application or lending services found in social or electronic media.
In this case, OJK has the authority to impose an administrative penalty for violation in the financial
services sector, as stated in Article 9 point g OJK Act. Further, Article 47 PJOK LPMUBTI listed the penalty
12 Otoritas Jasa Keuangan, Kajian Perlindungan Konsumen Sektor Jasa Keuangan: Perlindungan Konsumen Pada Fintech, Jakarta:
Cetakan ke 1 Otoritas Jasa Keuangan, 2017, p. 74.
13 Adrian Sutedi, Aspek Hukum Otoritas Jasa Keuangan, Jakarta Timur: Raih Asa Sukses, 2014, p. 62.
14https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Penyelenggara-Fintech-Terdaftar-dan-Berizin-di-OJK-per-30-April-
2020.aspx, accessed on June 10, 2020, 17.11 PM
15https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/Article/20548, accessed on June 10, 2020, 17.13 PM
The Financial Services Authority Supervision To Financial Technology Peer-To-Peer Lending ..
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consists of a written warning, fines a duty to pay a certain amount of money, business limitation, and
revoking the companies license.
. IV. DISCUSSION
Consumer protection on P2P services must be given extra attention, as most people became the victim
of illegal as well as the licensed P2P services. OJK, as the regulator and supervisor, must regard the issue of
fintech services seriously. The government must issue new rules regarding P2P companies' violations, for
instance, the consumers’ data theft and intimidation. In practice, OJK has a difficult time imposing legal
penalties upon problematic P2P companies. The absence of a law that can accommodate such an issue becomes
the main obstacle for OJK. OJK also is required to actively provide education and socialization regarding
fintech servicesincluding the rights and obligations of both the lender and the borrower and provide a list of
unlicensed P2P companies that the public can avoid. All of these are important to reduce the number of
violations committed by P2P companies.
V. CONCLUSION
The enforcement of rules involving P2P companies' violations has yet to be optimized. There are
several reasons for such issues, namely the majority of the public have not reported the violations of their rights
to OJK. Most people do not have enough information regarding the institutions responsible for such cases. Also,
there are other factors such as the related-institutions lack of socialization to identify legal or illegal P2P
services (through registration and license in OJK), which limit the public awareness. Therefore, the public often
uses illegal P2P services rather than licensed services. Even though the unlicensed P2P companies have a higher
risk of violating their consumers’ rights, such as personal data misuse and collecting payment through
intimidation.
REFERENCES
Books
[1]. Adrian Sutedi, Aspek Hukum Otoritas Jasa Keuangan, Jakarta Timur: Raih Asa Sukses, 2014
[2]. Az Nasution, Hukum Perlindungan Konsumen, Suatu Pengantar, Jakarta: Diadit Media, 2002
[3]. Mukti Fajar dan Yulianto Achmad, “Dualisme Penelitian HukumNormatif dan Empiris”, Pustaka Pelajar,
Yogyakarta, 2009
[4]. Otoritas Jasa Keuangan, Kajian Perlindungan Konsumen Sektor Jasa Keuangan: Perlindungan
Konsumen Pada Fintech, Jakarta: Cetakan ke 1 Otoritas Jasa Keuangan, 2017
Journals
[5]. Sari, (A.R), “ Perlindungan Hukum Bagi Pemberi Pinjaman Dalam Penyelenggaran Financial
Technonology Berbasis Peer to peer lending di Indonesia, Jurnal Fakultas Hukum Ekonomi dan Bisnis,
Yogyakarta, 2018
[6]. Subhan Zein, “Tinjauan Yuridis Pengawasan Otoritas Jasa Keuangan terhadap Aplikasi Pinjaman Dana
Berbasis Teknologi (Peer to Peer Landing/Crowfunding) di Indonesia, Jurnal Bisnis dan Akuntasi
Universitas Suryadarma, Vol. 4, No.2, 2019
Internet
[7]. https://duwitmu.com/kta/10-pinjaman-online-24-jam/, accessed on February 15, 2020, 17.41 PM
[8]. http://www.harnas.co/2018/12/12/404-fintech-ilegal-dihentikan, accessed on February 18, 2020
[9]. https://www.hukumonline.com/berita/baca/lt5c1c9d0759592/ragam-masalah-hukum-Fintech-yang-jadi-
sorotan-di-2018accessed on May 06, 2019
[10]. https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/Article/20548, accessed on June 10, 2020
[11]. https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Penyelenggara-Fintech-Terdaftar-dan-
Berizin-di-OJK-per-30-April-2020.aspx, accessed on June 10, 2020
Regulations
[12]. Act Number 8 the Year 1999 concerning Consumer Protection
[13]. Financial Services Authority Regulation Number 1/POJK.07/ concerning Consumer Protection in
Financial Sector
[14]. Financial Services Authority Regulation Number 77/POJK.01/2016 concerning Financial Technology
Peer-to-Peer Lending
... Oleh karena itu, masyarakat sering menggunakan layanan pinjaman online ilegal daripada layanan berlisensi. Meskipun perusahaan pinjol ilegal yang tidak berlisensi memiliki tingkat resiko yang lebih tinggi melanggar hak konsumen pengguna layanan, seperti penyalahgunaan data pribadi dan pengumpulan pembayaran melalui intimidasi (Budiman, Rahayu, & Jauhari, 2020). ...
Article
Full-text available
Online loans are digital financial service innovations that are very touching to people in need, especially during the Covid-19 pandemic. September 2020 data shows online loans have disbursed Rp. 417.6 billion to the people of Aceh. So that research on the impact of pinjol during the pandemic for the people of Aceh is important. This study uses a qualitative research type by using a literature study type of research. The results of this study indicate that online loans have a good impact in helping the difficulty of funds for the people of Aceh. However, this study also found that online loans have negative impacts that must be watched out for, including: the rise of illegal online loans, high interest rates and acts of terror and defamation that stalk users of this service.
Dualisme Penelitian HukumNormatif dan Empiris
  • Mukti Fajar Dan Yulianto Achmad
Mukti Fajar dan Yulianto Achmad, "Dualisme Penelitian HukumNormatif dan Empiris", Pustaka Pelajar, Yogyakarta, 2009
Tinjauan Yuridis Pengawasan Otoritas Jasa Keuangan terhadap Aplikasi Pinjaman Dana Berbasis Teknologi (Peer to Peer Landing/Crowfunding) di Indonesia
  • Subhan Zein
Subhan Zein, "Tinjauan Yuridis Pengawasan Otoritas Jasa Keuangan terhadap Aplikasi Pinjaman Dana Berbasis Teknologi (Peer to Peer Landing/Crowfunding) di Indonesia, Jurnal Bisnis dan Akuntasi Universitas Suryadarma, Vol. 4, No.2, 2019