Global software security group Kaspersky Lab says Indonesia is the leading country in terms of online financial fraud. Based on a survey conducted by Kaspersky Lab involving 26 countries around the globe, 26 percent of online consumers in Indonesia become victim of online financial fraud. Countries that rank second and third in this index are Vietnam (25 percent) and India (24 percent). Ross Hogan, Global Head of Kaspersky Lab's Fraud Prevention Division, says the company detected an increasing amount - and a wider variety - of online financial scams worldwide.

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Soon foreign investors will be allowed to control a full 100 percent stake in electronic commerce (e-commerce) businesses in Indonesia. Currently, the Indonesia Investment Coordinating Board (BKPM) is completing a new regulation that streamlines the latest regulatory changes in this industry (this regulation is expected to be completed in June 2016). Earlier this year, Indonesian President Joko Widodo signed a decree that opens (more wider) foreign ownership in various industries, including Indonesia's e-commerce industry.

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On 22 May 2016, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the last seven days. Most of the topics involve economic matters such as revisions made to the economic growth forecasts for Indonesia in 2016 and 2017, the trade balance, batik industry, infrastructure, rupiah & stocks, company updates, and much more.

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RTB House, a Poland-based technology firm that develops solutions for personalized display advertising in more than 30 markets across the globe, expects online advertisement spending in Indonesia to reach USD $4.92 billion by 2019 (up 250 percent from estimated online advertisement expenditure in 2016). This rise comes on the back of Indonesia's rising Internet and smartphone penetration. Recently, Indonesia surpassed the magic number of 100 million in terms of Indonesian Internet users.

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The Association of Internet Service Providers in Indonesia (APJII) announced that Internet penetration in Indonesia has now reached 40 percent of the population, or 100 million Internet users. Jamalul Izza, Chairman of the APJII, said this milestone is the result of the joint efforts the government, Internet services providers and other stakeholders to make Internet access available across the archipelago and create a conducive regulatory environment. However, it also implies that 60 percent of the population - some 150 million people - still live without Internet.

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The number of smartphone users in Indonesia is expected to grow strongly up to (at least) 2019 in line with overall economic growth of Southeast Asia's largest economy in combination with rising Internet penetration as well as the young and large population according to market research company eMarketer. Currently, less than 40 percent of the Indonesian population owns a smartphone (implying a still low smartphone penetration rate), while Indonesia is busy expanding its 4G technology network (a necessity for smartphone or tablet users) across the Archipelago.

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The world's Internet giants that provide services in Indonesia (such as social media platforms) are encouraged to establish a permanent presence in Indonesia in the form of a representative office or foreign investment company (PT PMA) hence becoming taxable entities. If not, their services can be blocked by Indonesian authorities. Finance Minister Bambang Brodjonegoro informed reporters about this plan on Monday (29/02). Although he declined to mention any names, it is assumed Brodjonegoro refers to social media platforms and those that sell products/services to the massive online audience of Indonesia.

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The move of the Indonesian government to relax foreign ownership rules regarding e-commerce businesses in Indonesia has also given rise to expectation that the country's major e-commerce players (including foreign ones) will be interested to list their companies on the Indonesia Stock Exchange through an initial public offering (IPO). Generally an IPO improves a company's transparency and corporate/financial management. E-commerce businesses are particularly in need of consumers' trust and confidence and therefore an IPO is considered a good corporate move.

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Indonesia is in the news today after it was reported that the government ordered all instant messaging providers - for example Line, Twitter and WhatsApp - to remove gay emoticons (such as same-sex couples holding hands or making kiss gestures at each other). Through this removal the government tries to safeguard the local culture and (religious-inspired) ethics hence protecting the nation's children from an example of bad western behavior.

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Growing Internet penetration does not only give rise to a thriving online dating business but also to an expanding online gaming industry in Indonesia. Netherlands-based Newzoo, a global market research and predictive analytics firm (with a main focus on the gaming industry), said revenue in Indonesia's online gaming industry rose 77 percent year-on-year (y/y) to USD $321 million in 2015 from USD $181 million in the preceding year. This year the online gaming industry of Indonesia is expected to grow 12 percent (y/y).

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Local and foreign smartphone vendors are eager to assemble 4 Generation long term evolution (4G LTE) smartphones in Indonesia. No less than 26 companies (and brand owners) have established assembly plants in Southeast Asia's largest economy with a combined investment value of USD $600 million since 2015. Of these 26 companies, 14 are local players. The number of foreign smartphone manufacturers in Indonesia is expected to grow as a new government regulation comes into force per 1 January 2017.

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Indonesia's Communication and Information Ministry urges American multinational technology company Google to set up a permanent establishment in Indonesia. This way Google, which is owned by US multinational conglomerate Alphabet Inc, would need to start paying taxes to Indonesian authorities. Currently, Google only has a representative office in Indonesia, while transactions and revenue generated in Indonesia are booked at Google Inc's Asia Pacific headquarters located in Singapore.

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State-controlled Telekomunikasi Indonesia, Indonesia's largest telecommunication and network provider, plans to launch its Telkom-4 satellite in 2018 through its subsidiary TelkomMetra. The Telkom-4 satellite, which will replace the aging Telkom-1 satellite, is equipped with 49 transponders that will be capable of beaming 100 Gbps mobile broadband across Indonesia, India and Southeast Asia. The USD $200 million satellite is expected to have a life span of 15 years.

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Indonesian drivers of taxis, buses and bajaj (three-wheeled scooters) gathered on Monday (14/03) on several locations - in front of the State Palace, City Hall, and the Ministry of Communication and Information - in Central Jakarta to demonstrate against the presence of online transportation applications such as Uber Taxi, GrabCar and Go-Jek. Protestors claim that these mobile apps are operating illegally in the country (as these services are not regulated by law) and cause a decline in income for long-time established transportation services, including taxi services, bus services and the more traditional transportation services such as bajaj and ojek (motor taxi).

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The financial performance of Indonesia's listed telecommunication and network providers improved in 2015. Indonesia's three largest listed telecommunication companies Telekomunikasi Indonesia, XL Axiata and Indosat Ooredoo all recorded a better financial performance last year. However, this does not mean all three companies posted net profit. In fact, only Telekomunikasi Indonesia recorded net profit. The other two companies still posted a net loss, albeit their losses were much lower compared to one year earlier. Given that Indonesia's economic growth is expected to accelerate in 2016, these companies should be able to continue growing this year.

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During Indonesian President Joko Widodo's visit to Googleplex, Silicon Valley (California) - headquarters of Google, Facebook, Twitter and Plug and Play - he emphasized that the government of Indonesia is committed to push for the development of the digital economy, aiming to make it the largest in Southeast Asia, worth USD $130 billion by 2020 (including the emergence of 1,000 Indonesian technopreneurs). In this context, Widodo also requested the assistance of Google, Facebook and Plug and Play in the form of IT development education.

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While Indonesia is currently in the middle of expanding its 4G network, the nation remains placed among the countries that have the poorest Internet penetration rate in the world. A recent World Bank report, titled 'World Development Report 2016: Digital Dividends', zooms in on the economic and social impact that occurs when a relative large part of the population cannot be connected to the Internet or when the government fails to keep pace with the growth of technology.

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The government of Indonesia targets to see 35 million domestically-produced mobile phones (per year) starting from 2017. Meanwhile, Indonesia’s wireless network is to be upgraded to 4G speeds by the same year (a 4G network is the new necessity for those with smartphones or tablets) although currently the country’s telecommunication operators are still in the middle of building receivers to boost 3G utilization. The government hopes to see a total of USD $4.5 billion investment in the telematics sector.

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Despite sharp competition, slowing profit margins and a saturating voice and SMS services market, Indonesia’s telecommunications industry still has lucrative prospects as there is still room for growth in data services, value-added services and still relatively low smartphone penetration (as well as low Internet penetration). However, of the big three Indonesian telecommunication network and services providers - Telekomunikasi Indonesia (Telkom), XL Axiata and Indosat - only Telkom managed to post net profit over 2014.

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Today, Indonesian president-elect Joko Widodo (commonly referred to as Jokowi) and Facebook CEO Mark Zuckerberg met in Jakarta to discuss how Facebook can be utilized for the benefit of the people and how the social media network can support Indonesian micro businesses. With nearly 70 million, Indonesia contains the world’s fourth-largest Facebook community. With a total population that numbers about 250 million people, a burgeoning middle class and relatively low Internet penetration, there remains a large untapped potential.

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