Legal Liability of Borrowers in Cases of Fraud on Peer-to-Peer Lending Platforms: A Case Study of Koinworks

Rizki Sarwo Eddy Wibowo; Muhammad Faidzal Dzulqarnain

doi:10.55927/fjst.v5i5.62

Authors

Rizki Sarwo Eddy Wibowo Gadjah Mada University
Muhammad Faidzal Dzulqarnain Open University

DOI:

https://doi.org/10.55927/fjst.v5i5.62

Keywords:

Fintech, P2P Lending, Fraud, borrower, legal liability, KoinWorks.

Abstract

The development of financial technology (fintech) in Indonesia has driven the rapid growth of Peer-to-Peer (P2P) lending services as an innovative financing alternative. Although it has a positive impact on financial inclusion, this phenomenon of rapid development also poses legal risks, especially related to fraudulent actions committed by borrowers. This study aims to analyze the form of legal liability of borrowers in fraud cases on P2P lending platforms with a case study of KoinWorks. This research uses a normative juridical approach, namely by examining laws and regulations, legal doctrine, and jurisprudence, and analyzing data through qualitative methods with deductive techniques. The results of the study show that borrowers' actions that meet the elements of fraud regulated in Article 378 and Article 263 of the Criminal Code can be subject to criminal liability. In addition, civil liability through the mechanism of default and/or unlawful acts (onrechtmatige daad) can also be applied. This research also highlights the weaknesses of sectoral regulations and the importance of strengthening due diligence mechanisms by platforms. Regulatory harmonization, the establishment of a digital dispute resolution forum, and the improvement of digital legal literacy are needed as a form of preventive and repressive legal protection

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