Indonesian businesses ramp up cybersecurity budget amid rampant attacks (The Jakarta Post)

Indonesian companies plan to increase their cybersecurity budget this year amid the high number of cyberattacks during the pandemic, signalling a growing awareness and commitment in digital safety, a survey by a cybersecurity company shows.

US-based Palo Alto Networks stated that, based on the firm’s survey in February, around 84 percent of Indonesian companies planned to raise their IT budget this year, 44 percent of which would allocate more than half of their IT budget to cybersecurity investment.

The number of companies in Indonesia committed to increasing the IT budget is higher than the ASEAN average of 73 percent.

“Almost all companies in the country have put cybersecurity as their business enabler in this digital era,” said Palo Alto Networks Indonesia country manager Surung Sinamo in a press briefing on July 15. “This shows that we are moving on the right track in terms of digital safety awareness.”

He went on to say that the top reasons these companies increased their budget were to tackle the growing number of sophisticated cyberattacks, upgrade their existing security framework and keep up with competitors.

“Attackers are now using artificial intelligence, so it is important for businesses to start relying on automation such as machine learning for security,” he said, adding that one of Palo Alto Network’s banking clients had seen a 200 percent increase in cyberattacks during COVID-19 compared to usual.

Indonesia recorded more than 88 million cyberattacks during the first four months of the year, with more than half of the cyberattacks being malware and phishing scams, according to the National Cyber and Encryption Agency (BSSN).

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The Jakarta Post

23 July 2020

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