Cybersecurity Challenges and Strategies in Banking and Fintech in Indonesia

Abstract

Digital transformation has significantly changed the landscape of the financial sector, particularly banking and fintech. Digital innovation improves efficiency, accessibility, and financial inclusion, but on the other hand, poses increasingly complex cybersecurity risks. This research aims to analyze how cybercrime threats affect financial sector stability, assess the effectiveness of existing regulations and policies, and formulate collaborative strategies to strengthen cyber resilience. Using the literature study method on academic publications and real cases from the last five years, this study found that despite regulatory efforts through OJK, BI, and BSSN, implementation still faces challenges in the form of limited resources, suboptimal policy evaluation, and weak collaboration between institutions. Fintech and Islamic banks face specific challenges related to data protection and sharia compliance, which demand a more adaptive security strategy. In conclusion, the integration of financial risk management with cybersecurity, as well as strengthening the synergy between regulators, industry, and law enforcement is the key to maintaining public trust and financial stability in the digital era.