Vulnerable To Burglary, OJK Admits Data Security Issues Are The Main Focus

Chairman of the OJK Board of Commissioners, Wimboh Santoso. (Photo: screenshot of OJK Youtube)

JAKARTA - The Financial Services Authority (OJK) does not deny that the rapid development of technology brings its own consequences in terms of security.

Chairman of the OJK Board of Commissioners, Wimboh Santoso, said that these negative excesses are often found in the financial services industry. According to him, OJK as the authority that protects this sector has an important role in ensuring that security elements can be well maintained.

"Regarding digitalization in the financial sector, OJK will proactively take policies to mitigate the risks that arise from the digital transformation," he said virtually from the Presidential Palace in Jakarta, Monday, October 11.

Wimboh added that personal data security risks and cyber security risks are the main focus of OJK through coordination with all law enforcers.

"If there are abuses or practices that are not in accordance with the rules, we will immediately take firm action," he said.

VOI noted that to date OJK has disbursed no less than Rp9.5 billion for the procurement of information technology infrastructure. The funds are the allocation of the remaining 2020 budget and the results of the refocusing of the first quarter of 2021, which amounted to Rp. 42.2 billion.

The information technology infrastructure procurement process itself has been completed and is being worked on for use in December 2021.

Meanwhile, the consumer protection budget for the financial industry sector for the whole of 2021 is IDR 21.53 billion.

“The presence of technology must be utilized as much as possible to accelerate economic and business activities as well as exchange information both domestically and across countries. There is no longer a limit to the dimensions of space and time in communicating with the presence of technology that is utilized by the entire community where financial services can be transacted or carried out anytime and anywhere," concluded OJK Chairman Wimboh Santoso.