Cybersecurity Guidelines for FSTI Providers
FOREWORD
Assalamualaikum warahmatullahi wabarakatuh.
We offer our praise and gratitude to God Almighty, for it is by His blessings and grace that the Financial Services Authority has been able to complete the preparation of the Cybersecurity Guidelines for the Financial Sector Technology Innovation (FSTI) Sector in Indonesia. These guidelines are intended to provide an explanation to all FSTI providers regarding the framework and mechanisms for implementing cyber risk management, which includes application of cyber risk management and response to cyber incidents. By applying an effective and responsive cybersecurity framework, it is hoped that a safe, resilient, and trustworthy digital financial ecosystem in the financial services sector can be established. In this highly connected era, data and information stored and interconnected within digital networks and other cyberspace elements have become crucial components in supporting transactions in the financial sector. This connectivity in cyberspace not only offers opportunities for the development of the financial sector but also introduces new risks, namely cyber risks, for the financial sector including the FSTI sector. According to global data, the financial sector was the industry most frequently targeted by cyberattacks in 2023, accounting for 16 percent of all cyber incidents. In addition, the average cost of data breach in the financial sector reached USD 4.35 million, significantly higher than the average
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