On 1 June 2023, the Central Bank of Malaysia, Bank Negara Malaysia (BNM), issued an updated version of its Policy Document on Risk Management in Technology (“Updated RMiT PD“). This document sets out additional requirements for a financial institution’s (“FI“) management of cloud technology risks and the adoption of multi-factor authentication (MFA) security controls by FIs.
This Update seeks to provide a summary of the key requirements being introduced under the Updated RMiT PD that FIs should take note of.
For more information, click here to read the full Legal Update.
