Indonesia’s central bank, Bank of Indonesia (BI), is strengthening its cybersecurity system to ensure that the country’s financial system infrastructure is protected from cyberattacks. BI deputy governor Juda Agung said the move comes as cyberattacks against financial service providers continue to rise this year. According to him, the central bank is currently creating a template for an end-to-end cybersecurity policy, which will cover cyber handling in industries, preventive steps, and resolution measures when a cyberattack occurs, including the mechanism of coordination with the Financial Services Authority (OJK). Apart from system disruption, cyberattacks on financial system infrastructure would cause a decline in public trust in the financial system, he added.
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