Bursa Malaysia is set to introduce new cybersecurity recommendations by late September or early October, following a significant breach on April 24 that involved unauthorized trades in several securities. The incident was swiftly resolved, but the exchange is conducting a comprehensive review to identify broader vulnerabilities, from technology infrastructure to regulatory frameworks. An industry working group, led by Chief Regulatory Officer Julian M Hashim, has been established to pinpoint weaknesses. As an immediate measure, Bursa has mandated that all participant organizations implement multi-factor authentication by year-end to prevent future breaches. On May 20, it was announced that unauthorized trades affecting 80 accounts would be reversed, with consensus from affected and counter-party brokers.
Will Bursa Malaysia introduce new cybersecurity guidelines by October?
