CYBER SECURITY DISCLOSURE OF BANK SYARIAH INDONESIA: A COMPARATIVE STUDY

Abstract

This current study investigated cyber security disclosures at Bank Syariah Indonesia (BSI) during 2022 and 2023 using a qualitative exploratory approach. This period was chosen because in 2023 there a cyber security breach or incident to BSI. Previous research had shown that cyber security incident could affect bank’s cyber security disclosure. This current study used the cyber security disclosure index to analyze the content of cyber security disclosures in the information technology chapter in the bank’s annual report. This study compared cyber security disclosures before and after the 2023 BSI cyber security breach/incident, compared BSI's cyber security disclosures with Islamic banks listed on the IDX in 2022 and 2023, and also compared with 2 conventional commercial banks as a benchmark for cyber security disclosure in Indonesia. This study concludes that the cyber security incidents experienced by BSI in mid-2023 have had a positive effect on the extent of cyber security disclosure of BSI, Islamic banking in Indonesia, as well as conventional commercial banks in Indonesia. This research contributes to providing an overview of the level of cyber security disclosure in BSI before and after the cyber incident, as well as peer industry.