Indonesia’s finance and banking sector second most cyber-attacked industry

Financial institutions were attacked triple the average global every week.

Indonesia’s finance and banking sector is the second most attacked industry by cyberattackers in the country, according to a study by cybersecurity solutions provider Check Point Software Technologies.

On average, Indonesia’s financial institutions were attacked 2,730 times a week in the first six months of 2022–more than triple of 252% more than the global average of 1,083 attacks a week.

Indonesia’s higher attack rates as compared to global statistics mean attackers are more successful in the country, warned Deon Oswari, country manager, Indonesia, Check Point Software Technologies. 

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“In the case of Indonesia, Check Point Research is seeing increased attacks on its mobile banking platforms and applications. It is critical that the banking industry be vigilant and review their best practices,” Oswari said.

Notably, the Central Bank of Indonesia was hit by a ransomware attack, with hacker group Conti Ransomware claiming the attack and leaking part of the allegedly stolen files.

Globally, the finance and banking sector was the 6th most cyber-attacked industry, the study found.

Phishing emails remain amongst the most common delivery mechanisms for ransomware. Check Point Research found that 92% of the malicious files in Indonesia were delivered via email in the last 30 days.

“All it takes is one uninformed employee clicking on a link in a malicious email, and it can hold an entire company hostage,” they warned.