Southeast Asia: Investment and cybersecurity

19 December 2018

Digital resilience is becoming a key factor in business processes and systems when doing business in Indonesia, as a result of the growing number of cyberattacks within the region. Cybercrime is costly for businesses and is widening in terms of its targets (meaning that it is no longer limited to just government and finance companies). This means companies in Indonesia (and other countries) need to take steps to reduce the risk of cyberattacks by having a robust cybersecurity program. In their report, McKinsey and Company outline key practices that companies need to implement in order to achieve digital resilience.

The report stresses the importance of having cybersecurity as part of business governance and management processes and decisions. Businesses also need to ensure that all of their employees are engaged in cybersecurity and trained how to mitigate cyber-risks. IT systems need to have built-in security features and tools, and incorporate big data analytics to predict cyberattacks and hacker behaviours. It is also advisable to plan and test responses to cybersecurity incidents with the use of simulations. The key takeaway message for businesses in Southeast Asian markets, and particularly in Indonesia, is that it is crucial to have rigorous and effective digital resilience systems in order to avoid the massive costs resulting from cybercrime.

Read the full article on the McKinsey website.

Other stories in this edition of Asia Echo: