Allegations Of A Cartel In Online Loan Service In The Enforcement of Business Competition Law
Downloads
The regulation of online loan interest rate determination in Indonesia is regulated in the Guidelines for the responsible provision of information technology-based money lending services issued by the Indonesian Joint Funding Fintech Association (AFPI) and the association has the authority based on statutory regulations to determine loan interest rates and other fees for business actors engaged in the online loan service sector. A cartel occurs when several business actors agree to regulate: interest rates, minimum/maximum loan limits, division of marketing areas or control of prospective debtor data. The Business Competition Supervisory Commission stated that AFPI and its members were involved in an alleged online loan interest rate cartel and an investigation has been conducted into the allegation. The investigation has found that there is an agreement to determine online loan interest rates carried out by AFPI and its members and the KPPU has also found 44 reported parties in this case and found evidence to strengthen the allegation including statements from the reported parties, witnesses or experts who have relevance to this case and other evidence. Synergy between institutions and the application of digital monitoring technology are the main keys to preventing the formation of cartels in the online loan sector.
AFPI, 2020, “About AFPI”, https://AFPI.or.id/, accessed on May 12, 2025 at 19.40 WIB.
AFPI, 2020, “About Us”, https://AFPI.or.id/about, visited on May 19, 2025, at 16.53 WIB.
AFPI, 2021, “"Guidelines for Responsible Conduct in Providing Information Technology-Based Joint Funding Services",https://afpi.or.id/about/code-of- ethics,visited on May 20, 2025 at 20.23 WIB.
Business Competition Supervisory Commission, 2023, “KPPU Press Release No. 20/KPPU-PR/X/2023 KPPU Conducts Initial Investigation into Alleged Interest Rate Cartel by the Indonesian Joint Funding Fintech Association (AFPI)”,https://kppu.go.id/wp- content/uploads/2023/10/Press-Release-No.-50_KPPU-PR_X_2023.pdf,visited on May 20, 2025 at 11:22 WIB.
Business Competition Supervisory Commission, 2023, “KPPU Press Release No. 020/KPPU-PR/IV/2025 KPPU Convene Things Pine nut RP 1.650 Trillion", https://kppu.go.id/wp-content/uploads/2025/04/Siaran-Pers-No.-020_KPPU- PR_IV_2025.pdf,visited on May 20, 2025 at 19.22 WIB.
Damaiyanti, Gloria, 2021, “Legal Certainty of the Business Competition Supervisory Commission's Decisions in Enforcing Business Competition Law"Lex Renaissan Vol. 6, No. 1.
Dewinta, Brigitte, 2021, “"Legal Review of the Problems of Enforcing Competition Law in Creating Legal Certainty",Lec Administratum Vol. IX, No. 3.
Fahmi, Muhammad Arif, et al., 2022, “Competition Law Regulations for Digital Financial Services in Indonesia”, Mimbar Yustitia Vol. 6, No. 1.
Financial Services Authority, 2024, “Information Technology-Based Co-Funding Services (LPBBTI), https://ojk.go.id/id/kanal/iknb/financial- technology/default.aspx#:~:text=Joint%Funding% Services sis%20Information%20Technology%20(LPBBTI)%2FPeer%2Dto,uang%20rupiah% 20directly%20through, accessed on May 12, 2025 at 19.20 WIB.
Handayani, Otih and Adi Sulistiyono, 2020, “"Fintech Legal Entity as an Instrument for Regulating Healthy Business Competition",Legal Issues Vol. 49, No. 3.
Husna, Hafiza and Tetty Marlina, 2023, “"Consumer Protection Regarding Online Loan Cartels: Ibn Taymiyyah's Perspective"Journal of International Islamic Law, Human Right, and Public Policy Vol. 1, No. 1.
Jawani, Lunita, 2022, “"The Principle of the Rule of Reason Against Alleged Cartel Practices in Indonesia",Lex Renaissance Vol. 7, No. 1.
Khoiriyah, Ahyadatul and Miswan Ansori, 2024, “"The Role of Sharia Fintech Peer-to-Peer Lending in Increasing Access to Financing for MSMEs in Indonesia",Journal of Economics and Business Vol. 4, No. 4.
Mudawaroh, 2022, “"Legal Review of Alleged Monopolistic Practices by PT. X Through the Rule of Reason Approach in Connection with Law Number 5 of 1999 concerning the Prohibition of Monopolistic Practices and Unfair Business Competition",Journal of Islamic Social and Cultural Studies Vol. 9, No. 1.
Neraca Economic Daily, 2023, “KPPU Reveals the Existence of a Loan Interest Cartelhttps://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTST OCK/From_EREP/202310/1a1fba2fb3_9f6f78e8af.pdf, accessed on May 12, 2025At 19.34 WIB
Septian, Kevin and Hariyo Sulistiyantoro, 2023, “"Efforts to Ensure Transparency of Interest Rates in Online Loan Agreements for Loan Recipients"Wahana Pendidikan Scientific Journal No. 9, Vol. 18.
Setiadi, Adi, 2018, “Protection of Lenders as Consumers and Responsibilities of Peer-to-Peer Lending Organizers in Peer-to-Peer Lending Activities in Indonesia"Journal of Legal Studies Vol. 5, No. 1.
Supianto, 2013, “"Per Se Illegal and Rule of Reason Approaches in Competition Law in Indonesia",Jurnal Rechtens, Vol. 2, No. 1.
Copyright (c) 2025 Zulkifli, Wetria Fauzi (Author)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with the Ekasakti Journal of law and Justice agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
