CCRIS Report

What data is captured in CCRIS?

BNM collects credit-related data on all borrowers of participating financial institutions in Malaysia. The collection and disclosure of this information by BNM is governed by legal provisions in the Central Bank of Malaysia Act 2009 (CBA), the Financial Services Act 2013 (FSA), the Islamic Financial Services Act 2013 (IFSA) and the Development Financial Institutions Act 2002 (DFIA).

For each borrower, participating financial institutions are required to report to BNM the following information:

• Profile of the borrower, such as name, identity card/business registration number, date of birth/registration, address, etc.;
• Credit application details, such as amount applied, date of application, type of facility; and
• Credit account details, such as type of credit facilities, credit limit, outstanding balance, instalment amount, conduct of account and legal action status, if any.

The information is updated by participating financial institutions on a regular basis. Reference information on particulars of borrowers provided by participating financial institutions are verified against official records of the National Registration Department for Malaysian individuals, and the Companies Commission of Malaysia for companies registered in Malaysia and businesses registered in Peninsular Malaysia and Labuan.

Note:

"Borrowers" include individuals, businesses (sole proprietors and partnerships), companies, professional bodies, associations, societies, and Government entities.

Accuracy of CCRIS data

It is important for the credit information stored in CCRIS to be credible. BNM is dependent on the PFIs to provide correct information in a timely manner. It is the duty of the PFIs to ensure that the credit information of their borrowers is maintained and correctly reported to BNM.

In the event that there is incorrect information identified by the PFIs or highlighted by the borrowers, the PFIs must rectify the information within a reasonable timeframe by sending the amendments to BNM.

BNM is responsible for ensuring that CCRIS is a secured system and protected against unauthorised access. The security and integrity of the credit information reported by the PFIs is always maintained.

As the system administrator, BNM does not alter, modify, or update the credit information maintained in CCRIS. Any alteration, modification, or updating can only be made by the PFIs themselves, except in circumstances which require intervention by BNM based on a request by the PFIs or borrowers, and supported by relevant documentary evidence.

As the information contained in CCRIS are compiled from a third party and does not represent the opinion of BNM as to the creditworthiness of the subject(s), BNM cannot assume any liability with respect to the accuracy or completeness of the information. However, BNM will assist to resolve any complaint received from borrowers regarding inaccurate credit information maintained in CCRIS.

Confidentiality of CCRIS data

The credit information provided by BNM to a participating financial institution (PFI) is classified as confidential.

The PFIs are required to observe the banking secrecy provisions in the laws -- namely Central Bank of Malaysia Act 2009, Financial Services Act 2013, Islamic Financial Services Act 2013, and Development Financial Institutions Act 2003 -- which prohibit them from divulging the affairs of their borrowers to a third party except in legally permitted circumstances such as in the course of any court proceedings between the borrower and the PFI, when the disclosure is authorised under any law, or when authorised to do so, in writing, by the borrower.

The legal provisions also provide for severe penalties for unauthorised access, abuse, or misuse of the information by any party that has been given access to such information, including BNM.

The usage of credit reports within the PFIs is strictly regulated by a policy document issued to the institutions by BNM.

In addition, information security is enhanced by the use of chip cards, passwords and other secure technologies.

BNM also keeps a record of all requests for credit reports by PFIs, detailing among others when and which PFI and its officers have requested the credit reports or have accessed the CCRIS database.