Information Technology in the banking industry is rapidly developing. Generally, banks utilize IT for, among others, improving services as well as the efficiency and effectiveness of the bank's operations. However, when applying IT, banks need to pay more attention to cyber resilience and security as they are responsible for protecting the confidentiality, integrity, and availability of assets and services.

Regarding the above, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) promulgated a new regulation at the end of last year. 

What is in the new regulation? Dentons HPRP’s lawyers, Mika Isac Kriyasa (Partner) and Aletheia Christy Hutabarat (Associate) have prepared a brief write-up which summarizes the new regulation with a conclusion to be noticed.

The full article can be downloaded here.