With the more prevalent use of technology in the provision of financial services, there is a need for financial institutions to strengthen their technology resilience against operational disruptions to maintain confidence in the financial system. The growing sophistication of cyber threats also calls for the increased vigilance and capability of financial institutions to respond to emerging threats. Bank Negara Malaysia issued the guidelines to ensure the continuous availability of essential financial services to customers and adequate protection of customer data, on the same lines.
The guidelines are applicable to:
The policy document covers six general policy areas:
and three regulatory processes:
Regarding control measures related to fraud, it is suggested to:
Regarding control measures related to other areas: