Indonesia is in the midst of a digital transformation, with a booming digital economy comprising more than 2,000 startups and seven unicorns — the largest in Southeast Asia. Yet as the country stakes its claim on an ambitious digital future, escalating cybercrime and digital fraud, especially identity theft, threaten to hinder the country’s progress.
In Southeast Asia, one in three people has reportedly experienced online fraud, according to a report by ADVANCE.AI, a leading big data company in Asia. In 2019, it was estimated that the region lost US$260 million to digital fraud; identity theft was found to be the largest contributor, followed by phishing activities and account fraud.
Poor consumer awareness, inadequate regulations, and a lack of robust digital identity verification mechanisms all contribute to the growing cases. The COVID-19 outbreak that hit the world in 2020 further exacerbated the problem, as fraudsters took advantage of the increasing number of users shifting to online transactions.
To combat this issue, identity theft monitoring services, such as Mastercard Identity Theft Protection, are actively deployed. The Mastercard Identity Theft Protection programme enables consumers to proactively monitor and resolve instances of identity theft, saving them time, hassles and associated financial costs.
In December 2021, leading Indonesian digital telco Indosat Ooredoo, which now becomes Indosat Ooredoo Hutchison through a merger with Hutchison 3 Indonesia in early 2022, announced its latest digital solution for customers in the form of IMSecure, a security check service deployed by Cyberplus. IMSecure, which is also supported by Mastercard as the company’s strategic partner, aims to increase the protection of customers’ personal data security amid the massive increase in internet network usage.
The latest feature allows Indosat Ooredoo Hutchison customers to track and verify if any of their personal data, such as telephone number, email, ID card number, mother’s maiden name, and other important data, have been taken and used by other parties on the internet.
As the technical lead in the project, Cyberplus helped Indosat Ooredoo Hutchison develop IMSecure as a custom branded solution, anchoring on the existing Mastercard ID Theft Protection product. Cyberplus also provided hands-on technical advisory and counsel to support Indosat Ooredoo Hutchison deploy the IMSecure feature to its Indonesian market. With its global presence across Europe, the Middle East, Africa, and Asia, Cyberplus’ on-ground capabilities in Southeast Asia also helped it seamlessly deploy IMSecure to the local Indonesian market.
“As the channel partner of Mastercard’s Cyber Security and Intelligence solutions, we are thrilled to have the opportunity to work with companies like Indosat Ooredoo Hutchison to deploy cutting-edge security solutions for their customers. In securing their customers’ digital experience, Indosat Ooredoo Hutchison is putting themselves a level above its competitors, while enhancing their ability to acquire new customers and retain existing customers,” said Andrew Tan, Managing Director of Cyberplus.
The IMSecure feature allows customers to monitor personal data usage in several categories, namely: (1) Essentials, including the usage of email addresses, ID card numbers, telephone numbers, and home address data; (2) Financial Well-Being, including the access and usage of bank account, credit, debit, or prepaid cards, as well as loyalty cards such as frequent flyer card; (3) Identity, Cards & Documents, including the usage of social media access, Driver’s License (SIM), mother’s maiden name, and passport; until (4) Insurance Documents, including the usage of medical and vehicle insurance cards.
Offering easy access, Indosat Ooredoo Hutchison customers can activate the IMSecure service by accessing the registration link, completing personal data, including active mobile phone number and email, then customers can immediately enjoy the Identity Protection service from IMSecure powered by Mastercard.
Navin Jain, Country Manager, Indonesia, Mastercard, said, “Today, everything is becoming digital, and Mastercard understands that visible “digital footprints” are of great concern to many. For this reason, digital innovation must be balanced with the need to build and increase public trust through the protection of individuals’ data. As such, Mastercard is delighted to collaborate with Indosat Ooredoo Hutchison to launch IMSecure, which will alert users if their personal data is compromised or in the event of an identity breach.”
Identity theft is a major global problem and one that will continue to persist without the right mechanisms and partnerships in place. In 2021 alone, some 27 million people fell victim to identity theft, according to a study done by Javelin. The same study found that the average fraud amount per incident of traditional identity fraud had also skyrocketed, up from $55 in 2019 to $1,350 presently.
As Indonesia marches forward to meet its digital transformation goals, industry players must showcase equal commitment and innovation in delivering the protection needed by consumers. And that public commitment, as demonstrated by Indosat Ooredoo Hutchison’s proactive digital security solution deployment, is one that can only happen with the right trust and partnerships in place.
Cyberplus is an international industry-leading provider that works with communications service providers, financial institutions and large enterprises, such as Indosat Ooredoo Hutchison, to boost their customer acquisition and retention by creating safer digital experiences for their customers.