An Analysis of the Effect of Using Online Loans on User Data Privacy

Online loans deliberately leak user data. The entry of the digital ecosystem at the beginning of the 20th century initiated major changes in society in the way information is controlled, communicated and expressed. Industrial development in Indonesia is growing very rapidly, especially along with the progress of the digital economy industry. Changes in the digital economy have changed the way we access the economy. The role of digitalization has changed the way we work and the way society collaborates with other parties. This digitalization cannot be separated from the role of financial technology, including online loans. Digitalization can simplify the lending and borrowing process and increase accessibility so that it can be done efficiently. However, we also have to be aware of the risks of online loans, especially in terms of user privacy and data security. According to the Financial Services Authority (OJK) rules, incidents of data privacy violations and online loan data leaks in 2022 will reach 1,200 cases. One case is when a loan provider acts by accessing a user's personal data to intimidate and threaten. They even made the situation even more threatening by coming to the user's location with several hired thugs to intimidate them into physical confrontation and making several unreasonable demands such as increasing loan interest. In some cases, there are fintechs who deliberately sell or trade some of their users' personal data for their own profit. This research aims to provide education about the importance of clear regulations from the central government regarding the Peer-to-Peer lending industry. This research uses a systematic literature review method to be more structured and objective in writing this paper.

@article{Sutedja2024,
  title     = {An Analysis of the Effect of Using Online Loans on User Data Privacy},
  journal   = {International Journal of Advanced Computer Science and Applications},
  volume    = {15},
  number    = {7},
  year      = {2024},
  publisher = {The Science and Information Organization},
  author    = {Indrajani Sutedja and Muhammad Firdaus Adam and Fauzan Hafizh and Muhammad Farrel Wahyudi},
  doi       = {10.14569/IJACSA.2024.01507118},
  url       = {https://doi.org/10.14569/IJACSA.2024.01507118}
}