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Jakarta Post

Cyberattacks, fraud threaten digital economy

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Thu, September 5, 2019   /  07:31 am
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A study released recently by Grant Thornton found that two-thirds of middle-sized and large businesses have experienced at least one cyberattack in the last 12 months, while 73 percent of 500 companies reported a loss of 25 percent as a result of cyberattacks.(Bloomberg/Chris Ratcliffe)

Cyberattacks, internet fraud and system failures are threatening Indonesia’s digital economy as the rapid growth of the new economy is not yet supported by adequate protection and reliable technology, analysts and business players have warned. A study released recently by Grant Thornton found that two-thirds of middle-sized and large businesses have experienced at least one cyberattack in the last 12 months, while 73 percent of 500 companies reported a loss of 25 percent as a result of cyberattacks. A study by the National Cyber and Encryption Agency (BSSN) found that Indonesia was hit by a record 12.9 million cyberattacks last year with an average 15 percent growth per year, signifying the rise of cyberattacks in the world’s fourth most populous nation. The Financial Services Authority (OJK) is taking several measures to protect Indonesia’s digital economy thr...