G20 meeting discusses cybercrime: Finance minister

Washington (ANTARA News) - Indonesian Finance Minister Sri Mulyani Indrawati stated that cybercrime was one of the topics being discussed at the G20 Meeting in Washington DC, United States of America, on Sunday.

"Cybercrime has been discussed seriously (in the G20 meeting), because the finance sector in each country is often being a target of cybercrime," Mulyani stated after attending the G20 meeting.

The meeting of G20 member countries was held on the sidelines of International Monetary Fund-World Bank (IMB-WB) Annual Meeting that was organized from Oct 10 to 15.

Mulyani, who is also a former World Bank managing director, stated that cybercrime in the finance sector could create a systematic impact as electronic system that is supported by financial technology (Fintech) is also developing at a faster pace.

In addition, the emergence of a new payment system such as bitcoin could also lead to cyberattacks in the finance sector.

"The introduction of new technologies, emergence of Fintech, and other means of payment actually could lead to the occurrence of cyberattacks that have not been taken into account," she stated.

She noted that the G20 member countries have agreed to discuss the issue of cyber security in the next meeting as cybercrime could cause a number of disturbances.

"The topic has been discussed intensively because threats posed by people with bad intentions in the financial sector has increased and need to be overcome by joint efforts to make the world aware of cyber threats," he remarked.

To overcome the potential cybercrimes, Mulyani ensured that Indonesia has had a road map of a digital economy, which listed the handling of security issue as one of the elements.

"A cyber team has been formed. We will also cooperate with Bank Indonesia, Indonesias Financial Services Authority (OJK), and Deposit Insurance Corporation (LPS) to discuss this issue with other law enforcement officials/agencies," she concluded.

Source: ANTARA News

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