The First International Conference On Islamic Development Studies 2019, ICIDS 2019, 10 September 2019, Bandar Lampung, Indonesia

Research Article

Reducing of Fraud Cases of Illegal Financial Technology Peer To Peer Lending (Islamic Economic Perspective)

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  • @INPROCEEDINGS{10.4108/eai.10-9-2019.2289366,
        author={Basrowi  Basrowi and Pertiwi  Utami},
        title={Reducing of Fraud Cases of Illegal Financial Technology  Peer To Peer Lending (Islamic Economic Perspective)},
        proceedings={The First International Conference On Islamic Development Studies 2019, ICIDS 2019, 10 September 2019, Bandar Lampung, Indonesia},
        publisher={EAI},
        proceedings_a={ICIDS},
        year={2019},
        month={11},
        keywords={fraud education literation financial technology sharia peer to peer lending},
        doi={10.4108/eai.10-9-2019.2289366}
    }
    
  • Basrowi Basrowi
    Pertiwi Utami
    Year: 2019
    Reducing of Fraud Cases of Illegal Financial Technology Peer To Peer Lending (Islamic Economic Perspective)
    ICIDS
    EAI
    DOI: 10.4108/eai.10-9-2019.2289366
Basrowi Basrowi1,*, Pertiwi Utami1
  • 1: Postgraduate Student of Sharia Economics Study, Universitas Islam Negeri Raden Intan Lampung, Indonesia
*Contact email: basrowi2018@gmail.com

Abstract

The objective to be achieved through this research is to find out the magnitude of the role of Islamic financial education and financial literacy in reducing the number of fraud cases of illegal financial techology peer to peer lending. The method used in this research is the quantitative documentary method. Data is collected using the documentation method, obtained from official data released by the Financial Services Authority of the Republic of Indonesia, Bank Indonesia, and official documents from related formal institutions available on the website, which are open access, which can be downloaded by everyone. Data was taken starting in 2014 since fintech began to develop rapidly. Data were analyzed using quantitative descriptive analysis in particular percentages. The results of data analysis show that, financial education and financial literacy that have been carried out by OJK and BI and other authorized parties have not been able to reduce the number of cases of illegal peer to peer lending Fintech fraud. In the future, it is expected that financial education and financial literacy can increase public awareness of illegal fintech advertisements and offers, which in turn can reduce cases of illegal fintech fraud.