Banks, customers should be wary of personal data misuse: LPS

Banks, customers should be wary of personal data misuse: LPS

The Deposit Insurance Corporation (LPS) office. (ANTARA/Doc.)

We positively welcome digital transformation, but on the other hand, banks should also conduct risk mitigation to protect the customers' data, so that they do not experience losses
Jakarta (ANTARA) - Banks and customers should be wary of the misuse of personal data by irresponsible parties that are thriving in the digital era, Executive Director of the Deposit Insurance Corporation (LPS) Ary Zulfikar suggested.

Zulfikar opined that banks should conduct risk mitigation to protect customers' data. Meanwhile, he called on customers to be more careful regarding the use of their personal data.

"Firstly, banks should strengthen their cybersecurity system and be involved in helping their customers to understand personal data and its management," Zulfikar noted in a statement here on Thursday.

"Secondly, customers should be aware that information regarding their personal data used for transactions on the digital platform and e-commerce platforms should be protected, especially if it's credential data. Do not be so willing to share them with unauthorized parties," he emphasized.

Zulfikar urged customers to periodically monitor their transaction history on their accounts.

"This is because cyberattacks could occur, which would lead to customers' personal data being exposed on the digital platform and lead to their funds being wiped out to their detriment," he expounded.

Zulfikar affirmed that the LPS, as a deposit insurance institution, had constantly ensured citizens to not harbor concerns over saving their money in digital and non-digital banks.

This is because the customers' savings are guaranteed by the LPS as long as the deposit interest rate did not exceed the guarantee interest rate and would not be detrimental to the banks, such as having a bad credit.

"We positively welcome digital transformation, but on the other hand, banks should also conduct risk mitigation to protect the customers' data, so that they do not experience losses," the executive director expounded.

"Meanwhile, our job is to uphold the public's trust in the banking industry," he stressed.

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