Jokowi Talks about Data Leakage: US$ 5 T Loss in 2022

Badung, CNBC Indonesia - The digital economy is said to be the key to the future of world economy and a major pillar with a contribution of 15.5% to global gross domestic product (GDP). However, if cybersecurity is not maintained, data leaks due to cybercrime could potentially cause economic losses of up to US$5 trillion by 2024.

This was stated by President Joko Widodo (Jokowi) at the opening of the third session of the G20 Summit, at Apurva Kempinski, Nusa Dua, Bali.

"Hoaxes and cyberbullying can lead to dividing unity and threatening democracy, data leaks resulting from cybercrimes have the potential to cause economic losses of up to US$ 5 trillion in 2024," said Jokowi, Wednesday (16/11/2022).

Therefore, digital security and privacy protection must be guaranteed. G20 countries, Jokowi emphasized, must build digital trust including global governance.

"We must work together to ensure that the benefits of digital are felt equally by all, I invite noble contributions to a digital world that is safe and inclusive and beneficial to all," Jokowi said.