Juridical Analysis of Protection in Consumer Protection Portal Applications (APPK) Financial Services Authority

Abstract

Aspects of trust and efforts to protect consumers of financial services are points that need attention and are constantly pursued in order to increase confidence in financial service providers and their products (market confidence), so that it indirectly maintains the sustainability of the financial industry itself. The financial services industry, which generally utilizes high technology, has a large enough potential to incur losses to consumer users which then lead to legal disputes. This research is normative legal research using a statutory and conceptual approach, while the results obtained from this research are that the role of OJK in providing consumer protection against illegal investments is that OJK is incorporated in the Task Force for Handling Alleged Unlawful Acts in the Field of Investment Management which named SWI together with related agencies and OJK developed the Consumer Protection Portal Application (APPK). Efforts to resolve the dispute will have a different dimension if it is carried out through legal channels which are generally taken, namely through the court, compared to settlement through a settlement mechanism outside the court. The nature of the judiciary with all its characteristics is seen as not fulfilling the aspect of efficiency for consumer disputes. Therefore, fast, low-cost and short resolutions are deemed more appropriate for consumer dispute cases. An effective and efficient complaint handling and dispute resolution mechanism on the one hand will strengthen consumer protection and on the other hand, apart from supporting the development of the financial services sector, it will also increase and improve the welfare of consumers and society.