Experian Malaysia temporarily pauses CCRIS related services and reports

Experian Malaysia temporarily pauses CCRIS related services and reports
-A +A

KUALA LUMPUR (Oct 3): Information services provider Experian Information Services (Malaysia) Sdn Bhd (Experian Malaysia) has temporarily paused its Central Credit Information System (CCRIS) related services and reports.

According to Experian Malaysia, this comes after Bank Negara Malaysia (BNM) on Sept 30 communicated the temporary suspension of access to CCRIS for all credit reporting agencies (CRAs) including Experian Malaysia, following the potential cyberthreat.

“The temporary suspension of access for all CRAs is a proactive and necessary measure by BNM [towards the threat].


“As a result of this access disruption to CCRIS, we are [also] actively working with BNM towards fulfilling the conditions for the suspension to be lifted,”  the company said in a statement Sunday.


Late Friday, 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,“ the central bank said.

On its part, Experian Malaysia noted that the company has since conducted an in-depth security investigation and has found no evidence of any compromise in its systems, servers or facilities. 

“We have submitted our findings to BNM and are actively supporting BNM in their ongoing investigation and additional assessments, as required to resume these services as soon as possible for our customers.

“Experian Malaysia adheres to the strictest security procedures and conducts regular checks and audits of our information security. We continuously invest in and upgrade our systems and security measures to ensure the safety of data are of global standards and those of the Malaysian regulators,” it said.

Experian Malaysia added that it is further making its JagaMyID identity monitoring service available for free for three months to all Malaysians as a precautionary measure to help Malaysian consumers safeguard their identities against potential cyberthreats.

“Experian takes our responsibilities to protect consumer and business data seriously. We would like to provide assurance that we have found no evidence of any adverse security incidents. 

“We are committed to advance data security standards and safeguards to protect the information and interests of Malaysian consumers and businesses,” said Experian Malaysia CEO Dawn Lai. 

Lai noted that it has been a worrying period for many, with alleged news of personal data being sold on the dark web in the past few weeks.


“To help safeguard against identity theft and ease consumers’ worry over whether their personal data has been compromised, we will be providing free dark web and credit monitoring for three months to all Malaysians, starting Oct 4,” she added.


Apart from Experian, CTOS Digital Bhd has also temporarily halted its CCRIS related services and reports.

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,” CTOS 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.


Read also:
Bank Negara temporarily suspends credit reporting agencies' access to CCRIS services 
CTOS offers free dark web monitoring to all Malaysians for one month




Surin Murugiah