The importance of cybersecurity for businesses, particularly in the technology sectors to support Indonesia’s booming digital economy was the focus of high-level discussion hosted by executive recruitment company Monroe Consulting Group in Jakarta.
Speakers at ‘Securing Our Future – Cybersecurity in The Digital Economy’ included Hadi Kuncoro, Group CEO at PowerCommerce.Asia - The Power Group Indonesia, Marshal Pribadi, Chairman at Indo Regtech and Leagaltech Association Indonesia, and Ardi Sutedja, Chairman and Founder of the Indo Cyber Security Forum.
Headhunter Inge Sari Purnama, head of Monroe Indonesia’s specialised Technology Division, said cybersecurity was a pressing concern for all digital and technology companies, particularly given a shortage of executives or technical talent in this growing sector.
“According to a recent report by business consultants Bain & Co, Temasek Holdings and Google, Indonesia’s internet economy is expected to triple to $133 billion by 2025 but this growth is being hampered for a number of reasons, including a shortage of technology professionals,” the executive recruitment consultant said.
“This means that start-ups or established businesses need to not only be creative about how they recruit and retain key staff, not simply offer higher salaries.”
The shortages were pronounced in a number of key areas, including cybersecurity, she said.
“This is particularly important now as the House of Representatives recently gave up drafting a cybersecurity bill.”
Ms Purnama said Mr Pribadi and Mr Sutedja both gave excellent presentations that were well received by the audience of human resources and other executives interested in the discussion, the latest expert forum hosted by the search agency.
Mr Kuncoro, a former senior advisor to the Coordinating Ministry for Economic Affairs, gave an overview of PowerCommerce, which helped companies transform their E-commerce and digital horizons.
He also had a stark warning on some of the latest cybersecurity threats and trends, including distributed denial-of-service (DDoS) attacks designed to bring down websites, information security and elaborate phishing scams.
“Hackers may try to attack your E-commerce business by launching phishing campaigns. For the purpose they might craft fake emails, phone calls and SMS messages,” he said during his presentation.
“If they lack security awareness, merchants may follow a fake page link and according to the instructions provide their login credentials.”
He said identify theft and refund fraud were also emerging as key trends.
“Identity theft is one of the ongoing fraudulent E-commerce activities that indicates online transactions made by another identity with false name using some others credit card data,” he said.
“Refund fraud in E-commerce is continuously growing as people are claiming that payments they were conducted by cybercriminals and seek to be reimbursed by way of an alternative payment method because they have closed that bank account.”
Ms Purnama reiterated that Monroe specialised in the recruitment of executives and tech talent in the technology sector.