Survey: These Financial Products Are Considered Vulnerable to Data Breaches

Cases of data breaches and misuse of personal data by irresponsible parties are increasingly prevalent in Indonesia. According to the '2021 Public Perception of Personal Data Protection' report conducted by the Ministry of Communication and Informatics, personal data breaches frequently occur in banking products or financial institutions.

Among various banking products or financial institutions, respondents considered e-wallets and bank accounts as the most vulnerable to data breaches. A recorded 36.6% of respondents stated data breaches in digital wallets, and 30.2% in bank accounts.

On the other hand, 22.9% of respondents believe that banking products and financial institutions have adequate data protection, making data breaches unlikely.

12.1% of respondents had experienced financial data breaches. The most common consequence was a reduction in bank savings (44.1%), followed by a reduction in e-wallet balances (32.2%). Other losses experienced by respondents included unauthorized transfers or purchases due to contact from certain individuals or companies.

Despite concerns about personal data breaches by financial institutions, respondents' confidence in personal data protection when using digital payments remains relatively high (mean score 6.84), although not yet sufficiently high.

The Ministry of Communication and Informatics, together with the Katadata Insight Center, compiled the Report on Public Perception of Personal Data Protection to present public understanding of the right to protect personal data and knowledge regarding the Personal Data Protection Bill (RUU PDP). This report analyzes primary data from a survey of 11,305 respondents across 34 provinces from July 14-21, 2021.

(read: Indonesia Among Top 3 Countries with the Most Data Breaches in the World)