Unethical practices peer-to-peer lending in Indonesia

Taofik Hidajat

66 citations0/0 files storedJournal of Financial Crime

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FinTech, Crowdfunding, Digital Finance Indonesian Legal and Regulatory Studies Financial Literacy and Behavior

Abstract

Purpose This paper aims to highlight the existence of illegal peer-to-peer (P2P) lending in Indonesia, unethical practices of P2P lending operators to borrowers, regulatory weaknesses and offer recommendations to reduce unethical practices. Design/methodology/approach This paper is a general discussion through desk research using secondary data from journal papers, research reports, books and papers online. Findings There are regulatory weaknesses in regulating illegal P2P lending. There are no strict legal sanctions for P2P lending operators who act unethically to borrowers. Originality/value This paper discusses the unethical actions of P2P lending operators and the inability of regulations to take legal action against illegal P2P operators.

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References

1981Credit Rationing in Markets with Imperfect Information 1984The market for “lemons”: quality uncertainty and the market mechanism 2018Fintech, regulatory arbitrage, and the rise of shadow banks 2007Credit Rationing in Markets With Imperfect Information 2014Evaluating credit risk and loan performance in online Peer-to-Peer (P2P) lending 2018What makes users willing or hesitant to use Fintech?: the moderating effect of user type 2014A trust model for online peer-to-peer lending: a lender’s perspective 2017FinTech: Harnessing Innovation for Financial Inclusion

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