Covid-19 has changed the way the financial services industry operates in a very short time. The digitisation of financial products and services has accelerated, and operations, most of which had previously taken place in traditional office and bank branch settings, have rapidly gone remote.

Both trends have increased the attack surface of the industry, giving cybercriminals new avenues to target sensitive customer and company data. Indonesia is particularly vulnerable to these new threats. The country has already been in the midst of rapid digitisation of financial services, with new payment platforms like Gojek’s GoPay and OVO.

GlobalWebIndex reports that Indonesia also has the highest rate of e-commerce use in the world – an overwhelming 90 per cent of internet users between 16 and 64 years old say they shop online.

New, rapidly growing digital platforms and customers who are inexperienced in…