No CCRIS access for credit reporting agencies – for now

 

Bank Negara Malaysia has ordered the temporary suspension to ensure customer data security.

KUALA LUMPUR: Bank Negara Malaysia (BNM) has directed CTOS Data Systems Sdn Bhd, a wholly-owned subsidiary of CTOS Digital Bhd, to temporarily suspend access for all credit reporting agencies to the Central Credit Reference Information System (CCRIS), effective today.

It said the temporary suspension was “a proactive, precautionary and necessary step against potential cyber threats and the possibility of data leak incidents in the credit reporting industry”.

“Pursuant to BNM’s suspension decision, we will momentarily halt reports and services containing CCRIS information on our platform,” said CTOS in a stock exchange filing with Bursa Malaysia today.

The company said upholding customer data security has always been its utmost priority and CTOS was committed to fulfilling the conditions in order for the suspension to be lifted.

“We are working expeditiously to resume these services as quickly as possible,” it said, adding that the rest of the portfolio of services remain available to customers.

CTOS also said that the temporary suspension is not expected to cause any material impact on its financials at this juncture. - FMT