18th November 2021 - 2 min read
CTOS Data Systems Sdn Bhd (CTOS) has obtained permission from Bank Negara Malaysia (BNM) to restore its access to the Central Credit Reference Information System (CCRIS), effective as of yesterday.
According to CTOS – which is a subsidiary of CTOS Data Systems Bhd (CDS) – the company had conducted a comprehensive review of CCRIS-related data assets and infrastructure as per BNM’s request. This assessment was carried out with the help of independent global cyber security experts, which found no breach of its data infrastructure and assets. The results were then submitted to BNM on 20 October 2021 before the central bank eventually agreed to restore CCRIS access for CTOS.
“As Malaysia’s leading credit reporting agency, CTOS has and will continue to make significant investments to ensure all data and information in possession is protected with world-class certified data security technology. Notably, CTOS’ IT and data security framework, policies, procedures, and systems shall continue to be benchmarked against ISO27001, as well as other global standards,” the company noted in a bourse filing.
For context, BNM had suspended CCRIS access for all credit reporting agencies in October 2021 after being made aware of a potential cyberattack involving these agencies. It then required the agencies to conduct and submit a review of their data infrastructure and assets before permission is given to have their CCRIS access restored.
Following the suspension, the first credit reporting agency to have its CCRIS access reinstated was Experian Information Services. Experian’s access was restored at the end of October 2021, after providing BNM with a security assessment that proved the integrity of its systems, servers, and facilities.
(Source: The Edge Markets)
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