Jakarta. The rapid development of digital technology and artificial intelligence (AI) in banking is making financial transactions more convenient, but it is also creating new cybersecurity risks, including deepfake manipulation and online fraud.

In response to these evolving threats, Standard Chartered Indonesia is emphasizing the importance of layered security measures and a strong culture of cyber resilience among corporate clients.

The message was highlighted by Jenny Tantono, Head of Transaction Banking at Standard Chartered Bank, during the Standard Chartered Digital Day event on Tuesday.

Jenny said that single-point verification is no longer sufficient to counter AI-powered manipulation techniques such as deepfakes.

“At Standard Chartered, we adopt multi-layer authentication and verification. When clients access our internet banking system, we combine unique identification, passwords and biometrics,” Jenny said.

Standard Chartered's internet banking platform is also equipped with fraud detection systems designed to automatically identify high-risk login attempts and unusual transactions. When a potential threat is detected, the system can immediately lock or disable the relevant account or transaction until manual verification is completed.

Against the backdrop of significant losses from online fraud reported by the authorities, Jenny stressed the importance of collaboration among stakeholders. Standard Chartered Indonesia actively works with Bank Indonesia and the Financial Services Authority (OJK) to strengthen measures covering fraud prevention, detection, escalation and the handling of customer funds suspected of being involved in fraudulent activity.

“In dealing with fraud, speed matters. The faster we identify an attack, the faster we can escalate the issue and limit its impact, helping to reduce the risk,” she said.

Building a Security Culture Among Corporate Clients
In addition to providing advanced technology infrastructure, including secure host-to-host connectivity and API banking supported by encryption and multi-layer authentication, Standard Chartered is also focused on developing a strong security culture among corporate clients.

According to Jenny, continuous education is key to building such a culture. Standard Chartered recommends three key steps for companies seeking to strengthen their cybersecurity practices. First, companies should conduct regular cyberattack simulations so employees understand how to respond when faced with a real-world incident.

Second, employees should be encouraged to promptly report and escalate suspicious transactions to senior management rather than hesitate to raise concerns.

Third, boards of directors and senior management need to take an active role in prioritizing cybersecurity, including by establishing clear reward and penalty mechanisms.

From Cybersecurity to Cyber Resilience
Through initiatives such as Standard Chartered Digital Day, the bank aims to help corporate clients develop structured incident-response frameworks and recovery plans.

Jenny highlighted the fundamental difference between cybersecurity and cyber resilience. While cybersecurity focuses primarily on protection and prevention, cyber resilience focuses on ensuring business readiness when an attack actually occurs.

“Our goal is to build a culture of cyber resilience. It is not about creating the impression that risk will disappear completely, but about making businesses better prepared. It is about detecting incidents, limiting their impact, resolving them and learning from them to drive continuous improvement,” Jenny said.

Add as a preferred source on Google +