Malaysia fines BKRM following cybersecurity breach

An external party gained unauthorised access to the bank’s IT infrastructure, the BNM said.

Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty of about $247,600 (MYR 1m) on Bank Kerjasama Rakyat Malaysia Berhad (BKRM) for cybersecurity and data control issues.

BNM said that it discovered that the BKRM had breached several requirements under RMiT PD and MCIPD PD following a cybersecurity incident, in which an external party gained unauthorised access to the bank’s IT infrastructure.

BKRM failed to implement robust cybersecurity standards required under the Risk Management in Technology Policy Document (RMiT PD), Malaysia’s central bank said in a statement in April 2026.

The bank also failed to safeguard customer information through adequate controls, as required under the Management of Customer Information and Permitted Disclosures Policy Document (MCIPD PD), the BNM said.

BKRM paid the fine on 26 January.

(US$1 = MYR 4.04)