The Financial Services Authority (OJK) has issued a document for Guidelines for Cybersecurity for Digital Financial Asset Trading Organizers (AKD) in Indonesia in order to strengthen the integrity and resilience of the increasingly dynamic AKD trading ecosystem.
Last year, OJK issued a Special Cyber Security Guideline for Financial Sector Technology Innovation Operators (ITSK). Now OJK is also expanding these guidelines for trade operators in the AKD ecosystem.
"This guideline departs from an understanding of the urgency to strengthen the integrity and resilience of the digital financial asset trading ecosystem which is increasingly dynamic," said OJK Chief Executive of ITSK Supervisory, Digital Financial Assets, and Crypto Assets (IAKD) Hasan Fawzi in his statement in Jakarta, quoted by Antara, Thursday, August 14.
Furthermore, Hasan said that this guideline was designed as a living document with a secure by design approach and resilience by architecture.
"All of them are designed to build a progressive, adaptive, and sustainable cyber-resilience system," Hasan said.
The launch of this cyber security guidelines has been carried out in conjunction with the implementation of OJK Digination Day activities in Semarang, Tuesday (12/8).
The launch was also attended by the partner of the preparation of the IAKD Cyber Security Guidelines (ITSK and Trade Organizer AKD) British Embassy Jakarta, representatives of the Indonesian Blockchain Association (ABI) and representatives of the AKD Trade Organizers.
Cybersecurity Guidelines Trading Organizer AKD emphasizes the importance of cybersecurity and builds a safe and adaptive, resilient, and visionary information system in maintaining public stability and trust in this sector.
This is a form of implementation of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UUP2SK), which stipulates a mandate for OJK to regulate and supervise the ITSK-IAKD sector starting January 2025.
This guide is not only aimed at strengthening consumer protection, but also to increase consumer confidence and the competitiveness of Indonesia's digital financial asset industry in the global arena.
It is hoped that this guideline can be a strategic reference in building a digital asset trading ecosystem that is safe, resilient, and sustainable for Indonesia.
Some of the strategic substance points contained in these guidelines include the application of the zero trust principle, which eliminates implicit trust in the network and encourages a layered authentication system, device management, and dynamic access policies.
Then, cyber risk management based on national and international frameworks such as ISO, NIST, CSMA, BSSN, and CREST, in order to measure the level of maturity of the security system of each organizer.
In addition, data protection and wallets through the application of cold wallet use for the majority of consumer assets, as well as end-to-end encryption using cryptographic algorithms according to industry standards.
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Substances in the guidelines also include an incident response plan prepared with effective coordination principles, rapid recovery, and integrated reporting with OJK and all relevant stakeholders.
Finally, increased technical competence is carried out in a sustainable manner through intensive training, professional certification (such as CISA, CISSP, CISM, etc.), as well as incident simulations to increase operational readiness.
With the issuance of this guideline, OJK hopes to create a balanced ecosystem between innovation, cyber security, and consumer protection, for the advancement of the digital financial sector in Indonesia.
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