Increased Cybersecurity In The Financial Sector, Certification As A Proactive Step To Face Threats

Illustration. (Photo: Unsplash)

JAKARTA - The National Cyber and Crypto Agency (BSSN) revealed that the financial sector is one of the industries most vulnerable to cyber crime. Director of Cybersecurity and Crypto of Finance, Trade, and Tourism of BSSN, Edit Prima noted that the trend of Indonesia's internet traffic anomaly showed a fantastic number, especially in 2021 as many as 1.6 billion incidents, then in 2022 as many as 976.4 million incidents, and 2023 as many as 151.4 million incidents.

"The financial sector ranks third after administration of government and energy, as the sector with the most internet anomalies. Ransomware attacks are still a threat in the financial sector in 2023 and BSSN recorded that of the 160 million malware anomalies, 966,533 were indicated to be ransomware," he said at The Finance Executive Forum: The Future of Digitalization and Cyber Crime Mitigation Towards 2045, quoted Saturday, December 30.

The current modern financial sector relies on the use of digital technology and platforms. The impact and risks posed on this dependence open up cyber threat opportunities, such as data theft, system hacking, and the buildup of the entire operating system of financial service providers.

Therefore, it is necessary to have a framework to identify, analyze, and evaluate the risk of information security in payment system infrastructure operators (PIP). Industry players are also considered to need to consider proactive steps by evaluating technology governance and implementing information security standards such as ISO 27001:2013.

For example, one of the payment system infrastructure providers, Jalin has certified ISO 27001:2013 and ISO 9001: 2015, as a manifestation of the company's commitment to realizing reliable information security and quality management for all banking and fintech members.

In addition, Jalin also obtained a version 3.2.1 version of the Payment Card Industry Data Security Standard (PCI-DSS) and Payment Card Identification Number (PCI-PIN) version 3.1 of Network Intelligence Pvt. Ltd, a global cyber institution that becomes the standard assessor in the payment industry.

The description of these two certifications places Jalin as a Payment System Infrastructure Operator (PIP) in Indonesia which holds CCI-DSS and PIC-PIN certification at once, thus increasing the security of bank customers in transactions using ATM/Debit cards.