- Indonesian government spokesperson confirms the finance ministry and Bank Indonesia must coordinate fiscal and monetary policies for national stability.
- The Finance Ministry, Bank Indonesia, and Financial Services Authority coordinated economic interests in Indonesia.
Bank Indonesia and Financial Services Authority Address Cyber Risks in Indonesia
What happened
Bank Indonesia Governor Destry Damayanti stated that cyber attacks caused an estimated US$6.2 billion in damage in Indonesia this year alone. BI is committed to supporting literacy programs organized by the government and the Financial Services Authority. This collaboration focuses on mitigating risks associated with the increasing digitalization of the economy.
From en.tempo.co
Why it matters
The losses highlight the significant financial risks posed by sophisticated cyber threats to the national economy. BI is tasked with ensuring the payment system ecosystem remains reliable, secure, and trustworthy amidst these challenges.
The Finance Ministry, Bank Indonesia, and Financial Services Authority coordinate economic interests in Indonesia.
From en.tempo.co
Who's involved
- Bank IndonesiaCentral bank of the Republic of Indonesia, responsible for monetary policy.
- Financial Services AuthorityFormal financial regulator overseeing market activities in Indonesia.
- IndonesiaIsland country in Southeast Asia and Oceania where the central bank operates.
Keep exploring
Part of
The Finance Ministry, Bank Indonesia, and Financial Services Authority coordinated economic interests in Indonesia.Also in this story
- Indonesian products are gaining traction with Japanese consumers, supported by ministry efforts to promote brands in Singapore and strengthening payment connectivity.
- Government settled decades-old BLBI bond debt with central bank.
The entities involved
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Bank Indonesia
central bank of the Republic of Indonesia
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Financial Services Authority
former quasi-judicial body in the UK
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Indonesia
island country in Southeast Asia and Oceania