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Best Practices: Handling Cybersecurity Incidents in the Financial Services Sector

  • 18 Agustus 2022
  • Lintas Sektor
  • Online

Teaser
Background

Talking about cybersecurity issues cannot be separated from computer network problems or internet-based information security in this global era. This cyber crime appears along with the rapid development of information technology. Attacks in cyberspace itself are a logical consequence of the development of the information technology era. Identification of forms of cyber attacks can be seen in things such as cybercrime, botnets, attacks on financial-financial institutions, the spread of Multi-Purpose Malcode, state-sponsored cyber activities, and hacking activities. Various forms of this trend use cyberspace instruments as the main channel in carrying out their actions.
Based on data published by the National Cyber ​​and Crypto Agency (BSSN), there are a total of cybercrime cases that have occurred, namely 714,170,967 traffic anomalies or cyber attacks that have occurred throughout 2022. a third of total attacks during the first half of 2022. Based on the data referred to, the dominant cyberattack is ransomware or malware with a ransom demand mode.
The World Economic Forum has published the Global Cybersecurity Outlook 2022, which surveyed 120 global security leaders from 20 participating countries of the World Economic Forum Cybersecurity Leadership Community and the Accenture Cybersecurity Forum. Based on the survey data referred to, there are 3 (three) top cyberattacks that are of concern to most organizations/companies in 2021, namely ransomware, social engineering, and malicious insider activity.
In an effort to deal with cyberattacks in the form of ransomware, a company should consider using a platform-based cybersecurity solution that is able to stop threats identified as ransomware on all attack vectors. This platform based cybersecurity solution requires a layered security model that involves network, endpoint, and data center control. The goal is that when a threat succeeds in "breaking into" a company's security hole, the response to the incident that occurs can be carried out quickly and precisely.

Cyber-attacks, which have become increasingly widespread lately, need to be given serious attention to FSS players. Based on data from the X-Force Threat Intelligence Index 2022, IBM Security, 22.4% of cyber attacks that occurred in the top 10 industries in 2021 occurred in the financial and insurance industry or ranked second after the manufacturing industry (23.2%). If detailed, there are 70% of attacks aimed at banking, 16% of insurance companies, and 14% of other financial sectors.
Taking into account the matters mentioned above, an understanding of incidents of cybersecurity attacks and how appropriate responses should be made by FSS actors as countermeasures are needed to minimize the risk of financial losses resulting from such attacks.


 

 

Objective
  1. Understanding cybersecurity incidents and their types and forms.
  2. Understand the steps for dealing with Cybersecurity incidents (incidents management) through the application of appropriate controls.
  3. Know the proper response efforts to incidents of cyber security attacks in order to minimize the risk of financial losses arising from these attacks.
Participant
Pimpinan dan Pegawai OJK, Perwakilan Industri Jasa Keuangan, Akademisi dan Masyarakat Umum
Speaker
  • Edit Prima (Direktur Keamanan Siber Dan Sandi Keuangan, Perdagangan Dan Pariwisata Dari Badan Siber Dan Sandi Negara )
  • Slamet Aji Pamungkas (Kepala Pusat Data dan Sistem Informasi Badan Standardisasi Nasional-Computer Security Incident Response Team (BSN-CSIRT))
  • Arga Mahanana Nugraha (Direktur Digital dan Teknologi Informasi PT Bank Rakyat Indonesia (Persero) Tbk)
  • Dr. Charles Lim B.Sc M.Sc (Deputy Head of Master of IT Program Swiss German University (SGU))