“In the end, the importance of cyber risk management can be summed up in one sentence. It takes several years to build a reputation and only a few minutes of a cyber incident to immediately destroy it,” LPPI director Edy Setiadi stated on Thursday.
He made the statement at the Indonesia Cyber Risk 2024 Seminar-Mitigating Cyber Risk and Building Trust held in Jakarta.
Based on the 2020 International Monetary Fund (IMF) data, the estimated total annual average loss experienced by the financial services sector globally caused by cyberattacks amounted to US$100 billion, or more than Rp1,433 trillion.
Setiadi pointed out that the rapid use of technology has surpassed the ability of society, companies, and regulators to truly apply the principles of safety and security in technology.
In implementing leading technology, he said, it is important to strengthen the basic systems required to support it, including the financial sector, which faces…
