The research aims to analyze the legal protection provided to victims of fraudulent investments based on Law No. 19 of 2016 concerning Amendments to Law No. 11 of 2008 concerning Electronic Information and Transactions. Ponzi schemes, often associated with online fraud, have had serious consequences for society. The focus of this study is to identify and analyze the legal provisions and their implementation in providing protection for victims of fraudulent investments as individuals with rights as consumers, especially in the financial sector. Therefore, in addition to being based on the aforementioned Law, legal protection will also be analyzed through other laws such as Article 3 of Law No. 8 of 2010 concerning the Prevention and Eradication of Criminal Acts of Money Laundering. The research method used is normative legal research with various approaches such as legislative, case, and conceptual approaches. The analysis is conducted on Law No. 19 of 2016 and its implementing regulations, which are then connected with cases of online investment fraud based on the Decision of the Tangerang District Court Number 1240/Pid.Sus/2022/PN.Tng. Additionally, this research also involves a literature review to understand the implementation of these regulations in relation to the relevant decisions.The results of the study indicate that Law No. 19 of 2016 provides a legal basis for the protection of victims of fraudulent investments. However, there are challenges in implementation and law enforcement. Therefore, this research also provides recommendations for improving regulations and law enforcement mechanisms to enhance the effectiveness of legal protection for victims of fraudulent investments in the era of electronic transactions.