Women in the Grip of Illegal Online Loans: A Study on Victims

Abstract

Illegal online loans have significant impacts on victims, especially women. In practice, illegal
online loans employ criminal acts as repressive measures against their victims in the debt collection
process. Illegal online loans tend to target women who are biologically and financially vulnerable, such as
housewives, workers, micro, small, and medium-sized enterprise (MSME) owners, teenagers, and others.
Women are the most disadvantaged targets in these cases. Illegal online loans exploit economic
inequalities with slogans offering ease and speed of fund disbursement as their attraction. Therefore, this
research aims to understand how women become victims of illegal online loans. The research method
used is qualitative research. The results of this study conclude that women, burdened with financial and
domestic responsibilities, tend to choose illegal online loans, which actually offer financially detrimental
solutions. The reasons for borrowing vary greatly for each woman. Illegal online loans have
disproportionate and highly detrimental impacts and responses for women. Women experience deep
losses as victims of illegal online loans. Additionally, the presence of negative stigma on victims
emphasizes the importance of financial literacy to empower and protect women from the exploitation of
illegal online loans.