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Indonesia’s Banking Sector Prioritising Cybersecurity 

Indonesia’s National Consumer Protection Agency (BPKN) is committed to protecting consumers’ interests and ensuring Indonesia’s banking sector’s integrity. In light of the increasing threats posed by cyber-attacks, BPKN recognises the significance of robust security measures, particularly for financial institutions like BSI operating in the realm of Islamic banking.

Mufti Mubarak, the Deputy Head of BPKN, said that the agency is committed to ensuring boosting cybersecurity further.  He emphasised that the agency will diligently monitor all cyber incidents until they are resolved.

By asserting its commitment to comprehensive cyber security, BSI demonstrates its dedication to protecting its customers’ confidential information, financial transactions, and the overall integrity of its banking operations. BPKN’s guarantee instils confidence in BSI’s customers and the general public, assuring them that BSI has taken significant measures to fortify its cyber defences.

As technology advances, cybercriminals continue evolving tactics, making it crucial for financial institutions to remain vigilant and proactive in countering potential threats. BPKN’s unwavering vigilance and commitment to overseeing this matter ensures that cyber-attacks targeting BSI will be swiftly addressed and resolved.

The report stated that Indonesia’s cybersecurity index score was 38.96 out of 100 in 2022. This figure places Indonesia as the third lowest among G20 countries. On a global scale, Indonesia ranks 83rd out of 160 countries on the list mentioned in the report. Enhancing cyber security requires significant support and collaboration from relevant stakeholders.

This support is evidenced by the National Cyber and Crypto Agency (BSSN) and the Indonesian ICT Association are recently actively engaged in cybersecurity initiatives. They coordinated a seminar to educate and create awareness about cyber security. The workshop’s objective is to enhance public understanding of the significance of cyber security in the digital era.

The field of cybersecurity has long been confronted with various challenges. In order to establish a strong and resilient cyber security framework, it is crucial for all stakeholders, including the private sector and the government, to collaborate and foster more effective models that can proactively anticipate and mitigate future cyber attacks, which often transpire unpredictably.

Furthermore, the government, through Presidential Regulation Number 53 of 2017 concerning the National Cyber and Crypto Agency (BSSN), and its amendment, Presidential Regulation Number 133 of 2017, established the BSSN. The agency is responsible for effectively and efficiently implementing cybersecurity by utilising, developing, and consolidating all elements related to national cybersecurity.

BPKN’s dedication to upholding the highest standards of cybersecurity is a testament to its role as a consumer protection agency, safeguarding the rights and interests of individuals who entrust their financial well-being to institutions like BSI.

BSSN formulates the Indonesian Cyber Security Strategy as a shared reference for all stakeholders involved in national cyber security. This strategy is a framework for acquiring and developing cybersecurity policies within their respective institutions.

Their commitment to diligently resolving this case demonstrates their tireless efforts and dedication to addressing the emerging challenges posed by the rapidly evolving digital landscape. By proactively tackling these challenges head-on, they strive to foster a resilient and secure banking ecosystem that safeguards the interests of all stakeholders involved.

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