Digital Financial Literacy and Digital Supervisory in Financial Services: Basic Legal Protection for Consumer Ratna Hartanto
Universitas Islam Indonesia
Abstract
The development of the digital industry in Indonesia shows positive progress with the proliferation of digital financial services provider. However, the development of digital financial services also brings a negative impact on consumers considering the relatively low level of digital financial literacy. In terms of government supervision, until now the government is still implementing manual supervision and there are still many digital financial service providers that are not registered/licensed. The focus of this study is the efforts needed to improve digital financial literacy of Indonesian consumers and digital supervision in digital financial service providers. This research is a normative legal research with conceptual and statutory approach. The results of the study show that in order to improve the digital financial literacy of Indonesian consumers, besides socialization by the government regarding digital financial literacy to public, it also requires the participation of all educational institutions in Indonesia to provide education to students about digital financial literacy. In addition, digital supervision in digital financial service providers is needed to replace the manual supervision by the government.
Keywords: digital financial literacy, digital supervisory, consumer protection
