The development of digital technology has had a significant impact on the
improvement of financial services, including the emergence of online loans based
on information technology. However, this advancement also poses risks of misuse
of consumers' personal data. This study discusses the role of the Financial Services
Authority (OJK) in protecting victims of personal data misuse by online loan
providers, as well as the challenges and efforts undertaken to enforce data
protection. The research uses a normative juridical method with a statutory
approach, supported by empirical data obtained through interviews with OJK Yogyakarta sources.
The results of the study show that OJK plays an important role in regulating,
supervising, and enforcing the law on digital-based financial services, including the obligation to maintain the confidentiality and integrity of personal data as
regulated in Law Number 27 of 2022 concerning Personal Data Protection, as well as various OJK Regulations. The main challenges in consumer protection include
the rampant proliferation of illegal online loans and the low level of digital literacy among the public. OJK’s efforts include preventive measures such as public education, and curative actions through the establishment of the PASTI Task Force and the enhancement of consumer complaint systems.
This study recommends increasing digital literacy, strengthening regulations, inter-agency collaboration, and developing a more responsive consumer reporting and complaint system to optimally support personal data protection in the financial services sector.