Cyber Risks, AI Misuse Top Corporate Governance Challenges: OJK

Indonesia's Financial Services Authority (OJK) identifies cyber risks and the misuse of artificial intelligence as the primary challenges facing corporate governance in an increasingly complex global risk landscape. The organization stresses the need for robust governance, risk, and compliance (GRC) frameworks to adapt to rapid changes.

Sophia Wattimena, Chair of the OJK's Audit Board, highlighted that risks are evolving faster than organizations can anticipate. A brief survey of GRC practitioners revealed that cyber risks and AI misuse are the foremost concerns, surpassing regulatory shifts, geopolitical instability, and climate change. Data from Indonesia's National Cyber and Crypto Agency (BSSN) also indicates a significant number of anomalous financial transactions, signaling a need for enhanced monitoring.

"Looking at the data from BSSN, it shows that anomalous transactions are quite significant. And of course, this needs to be our shared concern in an integrated and collaborative manner, supported by strong governance and accountability," Sophia stated at the Risk Governance Summit (RGS) 2026 in Jakarta. The OJK has been promoting industry understanding through the RGS since 2013, with this year's event seeing a 25% increase in participants to over 20,000.

The summit, themed "Future Ready, Governance for Sustainable Growth and National Prosperity," aims to foster best practices in GRC implementation and provide input to regulators, academics, researchers, and industry players. "It is greatly hoped that the various ideas and insights born from this forum can be translated into concrete steps to strengthen governance, enhance accountability, and support the achievement of Indonesia's Golden Vision 2045," Sophia added.

Ferry Irawan, Deputy for Coordination of State-Owned Enterprise Management and Development at the Coordinating Ministry for Economic Affairs, noted that global uncertainty is the new normal, making good governance crucial for economic resilience. "We live amidst various uncertainties, which may no longer be temporary but have become the new normal. Geopolitical tensions, market volatility, and supply chain disruptions cause increasingly complex and interconnected risks," he said. Despite these challenges, Ferry believes Indonesia's economic fundamentals remain strong, as reflected in its growth projections.