Banks Invest on Cyber Security

TEMPO.CO, Jakarta - Banks are preparing large investments on cyber security as digital transactions are growing rapidly. The situation may lead to higher potentials for cybercrimes.

Bank Negara Indonesia (BNI) has spent more than Rp800 billion for the development of digital banking this year. "The investment is mainly allocated to increase the capacity of the security system and rehabilitation of the digital banking service system," said BNI Finance Director Anggoro Eko Cahyo.

CIMB Niaga director of consumer banking Lani Darmawan said that the investment commitment is done by following the latest technological developments, especially in the prevention of fraud and crime.

Additionally, banks must enforce policies that "may not seem good, but important to protect customers' transaction," Lani said.

Read also: Indonesia's Cyber Security Awareness Still Low: Observer

The Financial Services Authority (OJK) Deputy Commissioner for Banking Supervision II, Budi Armanto, asked banks to improve the security of their systems and networks. "Early detection must also be optimized," he told Tempo.

Budi said that the basic cause of digital crimes are the customers and the banks. "So, digital crime can be minimized or prevented by cooperating and raising awareness between the two parties."

Meanwhile, Kaspersky Lab's senior security researcher Sergey Lozhkin warns that about the increasing threat of cyber interference in financial transactions. "The estimated loss due to cybercrimes in the payment system sector reaches US$30 billion per year," he told Tempo.

GHOIDA RAHMAH