Cybersecurity is a major concern for the global financial industry, especially the banking and payment systems industries. According to data from Checkpoint Research, there were 1,131 cyberattacks targeting the banking and financial sector worldwide in 2022, with losses estimated to reach approximately USD 100 billion.
According to the National Cyber Cryptographic Agency (BSSN), there were 361 million cyber attacks in Indonesia in 2023, with Rp 14.5 trillion ($906 million) recorded in economic losses from such activities. I did. The consequences of these cyberattacks go beyond financial losses. Data breaches and interruptions to key business services also have a significant impact.
Indonesia is currently laying the foundations for digital economic transformation and needs to foster collaboration between government and the private sector to support the acceleration of building cybersecurity infrastructure capabilities.
Through the issuance of Presidential Decree No. 38/2015, the Government has established a public-private partnership (PPP) legal framework in order to provide high-quality, effective and efficient infrastructure and create a better and profitable investment environment. Introduced. Winning solutions for governments, the private sector and people.
Under this regulation, information technology (IT) infrastructure is one of the types of infrastructure that can be part of a PPP scheme.
The Financial Services Authority (OJK) has also issued two regulations regarding cybersecurity in the financial sector. The first is OJK Circular Letter No. 29/2022 and the second is OJK Regulation No. 22/2023, which requires all banks and non-bank institutions to implement cybersecurity capabilities to ensure the implementation of cybersecurity principles. It stipulates that it must be maintained and strengthened.
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Bank Indonesia (BI), as the regulator of the payment systems and macroprudential industry, has also stipulated similar obligations in BI Regulation No. 22/2020, which requires all providers of payment service systems and payment service infrastructure to Operators are required to maintain and strengthen the system. their cybersecurity capabilities;
