Journal Articles

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https://hdl.handle.net/20.500.14170/301

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Browsing Journal Articles by Author "Abdul Ghafur Hanafi"
  • Publication
    Legal governance of Fintech risks in Malaysia
    (Semarak Ilmu Publishing, 2025-08)
    Hanis Hazwani Ahmad
    ;
    Mai Syaheera Mai Shaari
    ;
    Muhammad Arif Fadilah Ishak
    ;
    Abdul Ghafur Hanafi
    ;
    Wan Azani Wan Mustafa
    ;
    Fathullah Asni
    ;
    Almontaser Abdallah Mohammad Qadorah
    This study examined the correlation between legal governance and fintech risks in Malaysia. The study examined the existing literature on the legal governance of fintech risks, as published in various journals between 2017 and 2022. Due to strict access control, fintech businesses face challenges implementing their solutions within the financial sector. They are required to obtain the necessary financial business authorisation to proceed. Nevertheless, the present status of fintech businesses within the financial legal system is unclear, resulting in uncertainty regarding their corporate standing, rights, and obligations. As a result, their participation in financial operations may face difficulties regarding legal scrutiny. If a fintech company experiences a technical malfunction during the application process could negatively affect consumers' financial interests. Defining the legal responsibilities between the technical body and the commercial entity can sometimes be challenging. Thus, it is possible to easily incite disruptions in assuming legal responsibilities. This study proposes the implementation of legal governance or a new regulatory framework to mitigate fintech risks for users. Fintech adoption in Malaysia is still in its early stages. Fintech poses a significant challenge to the financial sector. It is crucial to acknowledge the risks associated with Fintech.