Jakarta (VNA) – Amid the rapid expansion of electronic payments and digital financial services, Indonesia is urging financial institutions to strengthen transaction security to counter increasingly sophisticated cyber threats, particularly ransomware attacks and artificial intelligence (AI)-enabled fraud.
On June 4, Indonesia's Financial Services Authority (OJK) stressed that enhancing cybersecurity capabilities has become an urgent requirement as digital payments continue to grow strongly across the country.
Tri Herdianto, head of the Consumer Legal Advocacy Directorate at OJK, said industry readiness in strengthening digital transaction security is now crucial, noting fraud resilience is no longer just a technical or technological issue, but a key pillar in maintaining public trust and ensuring business sustainability in the financial services sector.
According to Bank Indonesia, the country recorded 14.82 billion digital payment transactions in the first quarter of 2026, up 37.69% year-on-year.
The rapid development of the digital economy has accelerated cashless payments, e-commerce and online financial services. However, the trend has also created new risks as cybercriminals increasingly exploit AI technologies to launch more sophisticated and harder-to-detect attacks.
Statistics from Indonesia’s National Cyber and Crypto Agency showed that the country recorded around 5.2 billion internet traffic streams with potential cyberattack vulnerabilities in 2025.
Notably, about 94% of those threats involved malware carrying a high risk of mutating into devastating ransomware attacks, in which data is encrypted and held hostage for payment. Such attacks have become a major threat to businesses and financial institutions worldwide.
OJK noted that safeguarding the digital financial ecosystem requires banks, financial technology (fintech) firms and payment service providers to enhance cooperation, invest in advanced fraud detection systems and develop shared security infrastructure.
Indonesian authorities believe that public trust is vital to the digital transformation of the financial sector. Strengthening resilience against cyberattacks will therefore not only help protect consumers but also contribute to maintaining the stability of the national financial system in the digital era./.
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