A cybersecurity chief executive who refuses to connect to airport Wi-Fi is drawing attention to the growing dangers facing the global digital economy. According to a profile published by Business Times, Patrick Dannacher, president director and CEO of Indonesian cybersecurity company ITSEC Asia, avoids public wireless networks entirely because of the ease with which hackers can intercept sensitive data, infiltrate devices, and compromise entire systems.
For Dannacher, cybersecurity is not simply about technology but about understanding and managing constant exposure to risk. The Swiss executive, who leads one of Indonesia’s largest cybersecurity firms, said modern businesses can no longer avoid cyber risks completely and instead must learn how to identify, measure, and respond to them strategically. His philosophy has shaped ITSEC Asia’s transformation from a small nine-person Jakarta consultancy into a regional cybersecurity company operating across Southeast Asia, Australia, and the Middle East with more than 400 employees.
The Business Times report highlights how Indonesia’s rapidly expanding digital economy has created both enormous opportunities and serious vulnerabilities. Over the past decade, online banking, e-commerce, ride-hailing platforms, and digital food delivery services have become deeply integrated into everyday life across the country. Indonesia now has more than 300 million mobile phone subscriptions despite a population of around 280 million, illustrating the extraordinary pace of technological adoption.
However, cybersecurity spending has struggled to keep pace with this rapid digital growth. Indonesia’s National Cyber and Crypto Agency reportedly recorded between 3.6 billion and 5.5 billion cyberattack anomalies last year, placing the country among the most exposed to cyber threats in Southeast Asia. Dannacher warned that while Indonesia’s digital economy is expanding quickly, cybersecurity investment still significantly trails more developed regional markets such as Singapore.
Dannacher’s own journey into cybersecurity was unconventional. After studying finance and marketing at the University of Basel, he began his career in Swiss banking, working for Credit Suisse before later joining private wealth management giant Julius Baer. Yet in 2016, he made the unexpected decision to relocate to Indonesia and acquire ITSEC as its main shareholder, driven by his belief that Southeast Asia’s digital boom would create massive long-term demand for cybersecurity services.
That bet has paid off dramatically. According to figures cited by Business Times, ITSEC Asia reported a sharp financial turnaround in 2025 as it positioned itself as an artificial intelligence-driven cybersecurity provider. The company posted a net profit of 64.2 billion rupiah, a massive jump from less than one billion rupiah the previous year, while revenue surged more than 62 percent to 527.1 billion rupiah.
Dannacher said the company’s strategy evolved after realizing that traditional cybersecurity consulting could not scale efficiently. Consultancy work remained tied to headcount growth, limiting expansion. Instead, ITSEC shifted toward building proprietary cybersecurity products and artificial intelligence tools tailored specifically for developing markets such as Indonesia, where many small and medium-sized businesses cannot afford expensive enterprise-grade security systems designed for large multinational corporations.
The company has also invested heavily in cybersecurity education and workforce development. Through its subsidiary ITSEC Cyber and AI Academy, the firm secured a $60 million contract in late 2025 to train Indonesia’s future cybersecurity professionals using simulated attack environments that replicate real-world cyber threats. Dannacher said protecting thousands of smaller businesses may ultimately prove more significant than focusing only on large banks and corporations.
The interview published by Business Times also reflects growing concern about the changing nature of cyberwarfare. Dannacher warned that geopolitical tensions are increasingly spilling into cyberspace, where attacks on infrastructure such as power grids, communications systems, and financial networks can destabilize entire countries. He noted that cyberattacks often intensify during periods of geopolitical conflict.
Artificial intelligence, he argued, has dramatically lowered the barriers to cybercrime. Attackers who once needed advanced technical skills can now use automated AI-powered systems to scan industries for vulnerabilities on a massive scale. Instead of targeting single companies one by one, cybercriminals are now able to attack entire sectors simultaneously while searching for the weakest point of entry.
This shift has made smaller businesses especially vulnerable. Law firms, accounting firms, and smaller enterprises often store highly sensitive data but lack the sophisticated security systems of larger corporations. According to Dannacher, a single successful ransomware attack or compromised financial account can destroy a small business almost overnight.
Despite the growing sophistication of cyberattacks, Dannacher stressed that human awareness remains the first line of defense. Many breaches still begin with phishing emails, fake login pages, or fraudulent messages designed to trick employees into handing over passwords or financial information. With AI-generated scams becoming increasingly convincing, even experienced professionals now struggle to distinguish fake communications from legitimate ones.
Dannacher argued that cybersecurity can no longer be treated as a one-time investment or solved simply by installing antivirus software. Instead, organizations must commit to constant monitoring, continuous employee training, and long-term leadership involvement in digital security practices.
Beyond business strategy, the Business Times interview also offered insight into Dannacher’s leadership philosophy. He described leaving finance for cybersecurity as a pivotal moment in his life and said many of the principles learned in wealth management — including discipline, risk awareness, and client trust — continue to guide him today.
He also challenged the modern business culture that prioritizes speed above all else. Dannacher said rushing into decisions often creates larger problems later, arguing instead for patience, deeper analysis, and long-term thinking. Quoting an Italian proverb meaning “He who goes slowly, goes safely and goes far,” he explained that sustainable success often depends on resisting pressure for immediate action.
Outside work, Dannacher said he resets by spending time with family and traveling, believing that exposure to different cultures and perspectives helps maintain balance in an industry defined by relentless digital threats and nonstop global risk.
