It just comes down to how we evaluate, review, and we come at anytime to check what the banking sector has done. They (banks) have carried out their duties well thus farJakarta (ANTARA) - To ensure the safety of digital banking transactions amid the COVID-19 pandemic, the Financial Services Authority (FSA) is performing security evaluations, which include requesting banks to implement strict rules to identify potential breaches, an official said.
"It just comes down to how we evaluate, review, and we come at anytime to check what the banking sector has done. They (banks) have carried out their duties well thus far," said Heru Kristiyana, the chief executive of the regulating body’s banking supervisory division, in Jakarta on Friday.
He said the new normal has pushed customers to switch from offline transactions to online networks.
This has inevitably prompted banks to implement optimal digital services to ensure they are not left behind by customers, he added.
Digital transactions allow people to carry out some banking services at home, using a smart phone equipped with an adequate Internet connection, without having to queue up at the bank or visit an ATM.
The convenience offered by digital transactions, Kristiyana said, can lead to another challenge that is related to security, particularly, information technology.
The FSA, he said, has issued a number of regulations relating to digital banking, including on the soundness of banks, risk management, and anti-fraud regulations that need to be formulated by banks, to detect possible misuse of digital transactions, such as on mobile banking platforms.
"The security of digital banking transactions is certainly our concern. We always evaluate at all times whether the transactions made by customers with banks are secure," he remarked.
Earlier, Governor of the Bank of Indonesia, Perry Warjiyo, had revealed that non-cash transactions through ATMs, debit cards, credit cards, and electronic money means declined 24.46 percent in May this year, on an annual calculation.
The reason, he said, was the decline in economic activity due to the implementation of large-scale social restrictions (PSBB) to stem the spread of COVID-19.
However, the volume of digital banking transactions in May this year grew at 30.33 percent, while electronic money transactions grew 17.31 percent compared to last year. (INE)
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Translator: Dewa S Wiguna/Aria Cindyara
Editor: Fardah Assegaf
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