Bank Negara Malaysia (BNM) and CyberSecurity Malaysia have formalised a Memorandum of Understanding (MoU) aimed at reinforcing cybersecurity in Malaysia’s financial sector. This collaborative effort aims to develop and implement comprehensive cybersecurity strategies to address the challenges posed by the increasing digitalisation of financial services in the country.

The MoU between BNM and CyberSecurity Malaysia establishes a framework for sharing information, exchanging best practices, and providing technical support. This initiative is expected to bolster the resilience of the financial sector against emerging cyber risks and improve its overall cybersecurity preparedness.

The agreement was signed by Assistant BNM Governor Aznan Abdul Aziz and Dato’ Ts. Dr. Haji Amirudin Abdul Wahab, Chief Executive Officer of CyberSecurity Malaysia.

Assistant Governor Aznan Abdul Aziz remarked,

“As the pace of digitalisation of financial services continues to accelerate, BNM continues to place a high priority on ensuring that financial institutions remain resilient against current and emerging cyber threats.

 

“This partnership with CyberSecurity Malaysia strengthens our combined incident response capabilities together with financial institutions and supports the proactive measures we are taking to preserve a safe and secure environment for development and innovation in the financial sector.”

Echoing the importance of cybersecurity in today’s digital landscape, Dato’ Ts. Dr. Haji Amirudin Abdul Wahab, CEO of CyberSecurity Malaysia, stated,

“Undoubtedly, it is vital to address the vulnerabilities associated with recent technological advancements in order to establish a secure and safe workplace environment. Thus, today’s MoU defines a strategic partnership between two entities, alongside exchange of cyber threat intelligence to further enrich surveillance of the threat landscape between CyberSecurity Malaysia and the financial industry.”

Featured image credit: (from left) BNM Assistant Governor, Aznan Abdul Aziz, BNM Deputy Governor, Datuk Jessica Chew Cheng Lian, Deputy Secretary General, Ministry of Communications, Encik Ma. Sivanesan Marimuthu, Chairman of CyberSecurity Malaysia, General Tan Sri Dato’ Sri (Dr.) Haji Zulkifeli bin Mohd Zin and Chief Executive Officer of CyberSecurity Malaysia, Dato’ Ts. Dr. Haji Amirudin Abdul Wahab.