LEGAL ANALYSIS OF PERSONAL DATA PROTECTION IN FINTECH-BASED FINANCIAL TRANSACTIONS
DOI:
https://doi.org/10.33603/hermeneutika.v10i1.10988Keywords:
Fintech, personal data protection, PDP Law, cybercrimeAbstract
The rapid development of information technology has transformed the financial sector through Financial Technology (Fintech), which offers convenient access to payment services, online lending, and investment. Behind the opportunities for financial inclusion, Fintech also presents risks of personal data breaches, identity theft, and increasingly complex cybercrimes. This study aims to analyze the legal protection of personal data in Fintech-based financial transactions in Indonesia, with a particular focus on the effectiveness of the implementation of Law Number 27 of 2022 on Personal Data Protection (PDP Law) and related sectoral regulations. Employing a constructivist and critical paradigm with a normative-empirical juridical approach, this research combines legal norm analysis, field-based empirical findings, and comparisons with international standards (GDPR) to provide a holistic overview of personal data protection in the Fintech sector. The findings reveal that although Indonesia’s legal framework is relatively comprehensive, its implementation faces challenges such as fragmented regulations, limited supervisory capacity, technical constraints of regulators, and weak law enforcement against illegal actors. The study also highlights the dominance of administrative sanctions as the primary enforcement mechanism, which serve as short-term corrective measures but fail to create systemic deterrence. Strengthening regulatory capacity, establishing an independent data protection authority, harmonizing sectoral regulations, integrating administrative–civil–criminal enforcement pathways, and enhancing digital literacy are recommended to ensure legal certainty and strengthen public trust in digital financial transactions.
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