KUALA LUMPUR, July 30 — Bursa Malaysia Bhd will come up with recommendations by early October at the latest, after a hacking episode on April 24 this year, said Bursa chief executive officer Datuk Fad’l Mohamed today.
In April, a few brokers reported to Bursa and the Securities Commission that they had detected unauthorised access and trading activities for some online trading accounts.
The hacker reportedly targeted accounts without pre-approved online trading access, whereby transactions for the accounts would typically require execution through their respective brokerage firms.
“We quickly resolved the incident, but I think what we want to do is to have a more comprehensive review of the incident,” he told reporters after announcing the exchange’s financial performance for the first half ended June 30.”
Fad’l said Bursa had set up an industry working group, headed by its chief regulatory officer, Julian M. Hashim, to look at the various areas that it needs to address in terms of technology and regulatory framework.
“That is the first step that we have undertaken. In the meantime, we have instituted guidance and advice.
“We have mandated our participating organisations to ensure that multi-factor authentications are in place before year-end to help mitigate such situations,” Fad’l added.
— Bernama
