Cybercrime becomes a serious threat to the financial industry. Latest survey results from PricewaterhouseCoopers (PwC) found the fact that in one day alone there are more than 160 thousand hacker attacks. This amount is certainly not kidding.
The more trend and massive use of the internet for financial transactions, it is also increasing the mode and type of cyber crime that trail the financial finance industry.
Another surprising fact, PwC found the majority of cyber criminals turned out to be company insiders and former employees. The culprit is not far from the company or they are already resign. They are a group or line of heartache who became ex-fired, conflict or other problems.
Their findings state that of the 10,000 cases reported by small, medium and large companies, PWC found more than 60% of the perpetrators were employees or former employees. The rest, is a true hacker or a large actor who turns out to be from a third party in a company such as contractors and suppliers.
The rows of Indonesian hackers who arrested the security forces continued to grow from time to time so that increasingly add to the stack of money that was stolen. Trillions of dollars successfully "stolen" the hackers after they broke into accounts and financial systems of institutions or financial companies.
Cashless transactions are a soft land of hackers. Cashless transactions are vulnerable to hacking. No matter how strong the fortress is, hackers are constantly creating and varying their attack weapons.
Data theft in cyberspace or technical terms scam appears in various forms ranging from artificial sites to phishing applications. A scam technique with the appearance of an artificial site that is exactly the same as the original agency website or financial services company.
This artificial site is made to outwit customers to enter the fake site. Once it is trapped, these fraudsters try in various ways and techniques to get customer data. If you are fooled, the fraudsters will be free to take advantage of financial accounts obtained. Money was dredged as he pleased.
Artificial sites are now evolving into artificial apps. This development follows the institution or financial services company that completes its online transactions with the application. The hackers did not want to miss. Not only create artificial applications, they also spread malware or ransomware that usually lock the database and the system.
Institutions or financial companies that keep updating alias innovate for security system applications should be getting a high appreciation.
Like hackers, IT forces in financial services companies are not fools. Multiple layers of security systems are created for customers' convenience as IndoPremier does with its newest product called IPOTPAY.
Fintech (Financial Technology) which offers maximized balance with last year results in the range of 7-9% per annum (gross) develops new security systems.
Their Fintech platforms are protected with 256 bit SSL security systems and three layer security (password, secure PIN, and OTP code).
This multi-layered security system is one step ahead of the banking world using only 2 Factor Authentication (2FA) which is the level of password and OTP level.
IPOTPAY is supported by 3 Factor Authentication (3FA) ie password level, randomized numerical PIN and OTP (One Time Password).
The location of the privilege is the level of the password consists of a combination (minimum) 8 digit number, letters and special characters. There is also a randomized numerical PIN level in the form of a 10 digit random number that can only be selected via click or touch screen created by the IndoPremier IT team.
The security layer effectively counteract malware attacks like key-loggers. Meanwhile, the OTP level itself is a random and unique password that is sent via SMS to the user with a validity period of 3 minutes.
To be honest, this kind of security system innovation must be encouraged in all institutions or financial companies in Indonesia because from day to day the hacker is also getting smarter and careful to see the gap to enter and break into the defense of cashless financial system of institutions or financial services companies.