KUALA LUMPUR (Oct 1): CTOS Digital Bhd said Bank Negara Malaysia (BNM) has temporarily suspended the Central Credit Reference Information System (CCRIS) services to credit reporting agencies.
In a filing with Bursa Malaysia on Friday, the group said its wholly-owned subsidiary CTOS Data Systems Sdn Bhd had received a letter/directive from the central bank regarding the temporary suspension of access, effective Oct 1.
“The temporary suspension is a proactive, precautionary and necessary step against potential cyber threats and possibility of data leak incident in the credit reporting industry.
“Pursuant to BNM’s suspension decision, we will momentarily halt reports and services containing CCRIS information on our platform,” it said.
The group said customer data security has always been its utmost priority, and that it is committed to fulfil the conditions in order for the suspension to be uplifted, and that it is working expeditiously to resume services.
Meanwhile, it said the rest of its portfolio of services remain available to its customers.
“The temporary suspension is not expected to cause any material impact to CTOS’ financials at this juncture,” said CTOS Digital.
Earlier on Friday, the group issued a note to its customers regarding the issue, stating that the suspension of CCRIS affects all credit reporting agencies and that it was a “temporary measure taken by BNM”.
It said it was unable to confirm when the CCRIS service will be reinstated.
When contacted, BNM told theedgemarkets.com that it has been “made aware of a credible threat involving credit reporting agencies in Malaysia”, without elaborating.
“The safety of financial consumer’s data is of utmost importance to BNM. As a pre-emptive measure, BNM has temporarily suspended the access of all credit reporting agencies to the CCRIS database effective immediately.
“Access will be restored once the credit rating agencies' secure access is assured. Nevertheless, financial consumers will continue to have access to their CCRIS report from this link: https://eccris.bnm.gov.my,“ it said.
CTOS Digital shares fell as much as 15 sen or 7.4% to touch an intraday low of RM1.87 on Friday. The counter closed 10 sen or 4.95% lower at RM1.92, giving a market capitalisation of RM3.84 million.