KUALA LUMPUR, 25 October 2021: Bank Negara Malaysia (BNM) has accepted the findings of the security assessment provided by Experian Information Services (Malaysia) Sdn Bhd (Experian) and is restoring Experian’s access to the Central Credit Reference Information System (CCRIS) on 25 October 2021, with immediate effect. Experian’s services and reports containing CCRIS data will then be available as normal to all businesses and consumers.
On 30 September 2021, BNM issued a temporary suspension of CCRIS access to all Credit Reporting Agencies (CRAs) including Experian as a proactive and precautionary measure due to a credible cyber threat.
In line with BNM’s directive, Experian conducted an extensive internal security investigation and engaged an independent global expert in cyber security to conduct a security compromise assessment. All investigations have found no evidence of any compromise in Experian’s systems, servers or facilities. Experian has also actively supported BNM in their investigation by providing all relevant compromise assessment documentation as requested by the central bank on 14 October 2021.
Consequently, BNM has lifted the suspension of Experian’s access to CCRIS.
Experian is a global industry leader in data security, operating 24 consumer credit bureaux globally, and invests heavily in cyber security with specialist teams, state-of-the-art technology and rigorous due diligence procedures to deal with potential threats. Experian’s Global Security Operations Centre works around the clock to identify suspicious or malicious activity, with teams on the ground in Malaysia, the UK and the USA, as well as automated tools and AI.
“As cyberthreats mount and the complexity of such threats advance, Experian understands how critically important it is for us to maintain global, best-in-class information security systems and protocols in place to protect the data integrity of businesses and consumers today and for the future. We frequently conduct regular checks and audits to ensure that we protect our IT infrastructure, edge devices, networks, and data. Above and beyond this is our people investment which consists of global leading information and cybersecurity security professionals and consultants, who put our systems through rigorous and robust stress tests and reporting. Another additional area where we demonstrate our commitment to Malaysia is through our attainment as the country’s only CRA to be awarded the global ISO27001:2013 information security certification since 2017.”
“As the first CRA in Malaysia to have its CCRIS access reinstated, Experian is currently working actively with clients and consumers to provide the support they may need to reestablish any information gaps they may have experienced over the course of this temporary disruption. Our goal is to enable them to return to business as usual expeditiously, with the highest level of service and commitment they have always received,” assured Dawn Lai, CEO, Experian Information Services (Malaysia).
Experian continues to make its JagaMyID identity monitoring service available for free for 3 months to all Malaysians as a precautionary measure to help Malaysian consumers safeguard their identities on the dark web. Consumers are encouraged to register for their free 3-month subscription to Experian JagaMyID at https://www.mycreditinfo.com.my/ before 31 October 2021.
Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
We have 17,800 people operating across 44 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index. Learn more at experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.