ANALYSIS OF VIOLATIONS OF BUSINESS ETHICS IN DISTRIBUTION OF CUSTOMER DATA BY ILLEGAL FINTECH

Abstract

Technological advances that have a direct impact on aspects of people's economic life. The emergence of financial technology in the form of online loans makes it easy to get the funds you want with a very short time and easy process. This study aims to discuss illegal online lending practices from the perspective of business ethics. In the practice of Financial Technology (fintech), namely online loans, several problems were found, such as the emergence of illegal online loans, recorded from January 2018 to April 2019, the Financial Services Authority had blocked 947 fintech entities of the type of unlicensed peer to peer lending. When viewed from the perspective of business ethics, online loan activities can be carried out by maintaining mutual trust which has a major influence on the company's reputation. However, if the company is illegal, it can trigger criminal acts such as fraud, money laundering or misuse of consumer data. This condition is triggered by many people who do not know about the financial technology business.