Standards, Regulations & Compliance , Video

How Banks in Indonesia Are Preparing to Meet OJK Regulations

Bank Mega's Wahyu Agung Prasetyo on How Banks Can Improve Cyber Resilience
Wahyu Agung Prasetyo, head of IT and cyber risk management, Bank Mega

OJK, the financial regulator in Indonesia, in December 2022 introduced regulations to ensure better cyber resilience for the financial industry. Wahyu Agung Prasetyo, IT and cyber risk management head at Bank Mega, shared how his bank is preparing to meet the regulations and the challenges ahead.

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"Five years back we could not even calculate the cyber risks within the operational risks of banks, but now banks have clear directions from regulators on how to measure the maturity of cyber resilience itself," Prasetyo said. "We have been given clear instructions on how banks can prepare for the worst-case scenario."

Prasetyo said he has implemented a few parameters of the OJK's cybersecurity checklist on operational risks. "This is the first step and after this, we will integrate this into our cybersecurity strategy. Then this will be part of our enterprise risk management framework."

In this video interview with Information Security Media Group, Prasetyo also discussed:

  • How banks can prepare to meet OJK regulations;
  • Why DPOs and CISOs need to work together;
  • Challenges on the path to compliance.

Prasetyo has more the 15 years of experience in the field of information technology including computer networks, operating systems, and information and cybersecurity.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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