Wow! Cyber Attacks In The Financial Sector Doubled!

Illustration (doc. Antara)

JAKARTA - The Financial Services Authority (OJK) announced the rise of cyber attacks targeting the financial sector from January to September 2021.

"A total of 21.8 percent of cyber attacks targeted the financial sector, and took the second position as the target of the most cyberattacks in 2021. However, the disruption and losses caused by cyber attacks in the financial sector still occupies the highest position," said the Research Director of the Research and Development Department of OJK's Banking Regulations, Mohamad Miftah, in the Hybrid Banking Ecosystem webinar, in Jakarta, as reported by Antara, Thursday, March 17.

According to Miftah, in the period from January to September 2021, there were 920 million cyber attacks in Indonesia. This number has almost doubled compared to the number of attacks in the previous year, which recorded 495.3 million attacks.

"The highest attack was in May 2021, which was 186.2 million attacks, which gradually decreased in the following two months," said Miftah.

Of all cyber attacks that occurred, there were three types of attacks detected in Indonesia, namely malware as much as 58 percent, trojan activity 11 percent, and target information gathering as much as 10 percent of the total attacks.

In addition to cyber attacks, Miftah said that banking digitalization also faces challenges, one of which is innovation that is still focused on simplifying traditional banking services.

"We are aware that digital banking innovation is still focused on simplification and digitization of traditional financial services, or is only at the digitize stage and has not yet reached the digitalization stage," said Miftah.

In addition, the slow adaptability of customers and incomplete government regulations are also obstacles to banking digitalization.