Latest news with #JulianMHashim
Malay Mail
31-07-2025
- Business
- Malay Mail
Bursa to propose fixes by October after April trading account hack
KUALA LUMPUR, July 29 — Bursa Malaysia Bhd will come up with recommendations by end-September or early October following a hacking incident on April 24 this year, said chief executive officer Datuk Fad'l Mohamed today. Last month, a few brokers reported to Bursa Malaysia and the Securities Commission Malaysia 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, 2025. Fad'l said Bursa Malaysia 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,' he added. — Bernama
The Star
23-06-2025
- Business
- The Star
Bursa Malaysia forms industry working group to strengthen cybersecurity in stockbroking
Bursa Malaysia chief executive officer Datuk Fad'l Mohamed KUALA LUMPUR: Bursa Malaysia Bhd has formed a dedicated industry working group to strengthen cyber resilience across the Malaysian stockbroking ecosystem. In a statement, the stock exchange operator said this coordinated effort follows the unauthorised trades incident on April 24, 2025. 'The industry working group represents a concerted effort to strengthen the cyber resiliency of our trading ecosystem. The industry recognises that cyber resiliency is not just a technology best practice — it is the cornerstone of a trusted and vibrant capital market. 'A resilient ecosystem safeguards investor confidence, upholds market integrity, and ensures that our digital infrastructure can withstand and adapt to evolving threats,' chief executive officer Datuk Fad'l Mohamed said. The industry working group, chaired by Bursa Malaysia chief regulatory officer Julian M Hashim, comprises representatives from four bank-backed participating organisations (POs), two non-bank POs, and two subject matter experts in the field of cybersecurity. The group held its inaugural meeting on June 17, 2025, during which it finalised its terms of reference. Its mandate includes assessing current cybersecurity practices and identifying systemic vulnerabilities within the stockbroking ecosystem. Additionally, the group will work on developing industry-wide standards and best practices for information and communication technology (ICT) risk management and incident response. It is also tasked with recommending enhancements to regulatory frameworks and operational protocols to strengthen overall cyber resilience. The industry working group targets to finalise its recommendation paper within four months, with the subsequent implementation phase focused on the execution of the recommendations. Acknowledging the different levels of operational complexity among stockbroking firms, industry consultations will be held to ensure the recommendations are practical and fit for purpose. Bursa Malaysia said stockbroking firms have recently implemented precautionary measures, including mandatory password resets, enhanced monitoring of unusual logins, blocking suspicious IP addresses, and issuing client alerts to safeguard login details. In line with these efforts, Bursa Malaysia had on May 21, 2025 sent out a directive to mandate that all stockbroking firms implement multi-factor authentication by the end of 2025. This requirement is a critical step towards enhancing the security of investor trading accounts and mitigating the risk of unauthorised access.
The Sun
20-06-2025
- Business
- The Sun
Bursa Malaysia forms industry working group to strengthen cyber resilience in stockbroking ecosystem
Bursa Malaysia forms industry working group to strengthen cyber resilience in stockbroking ecosystem PETALING JAYA: Bursa Malaysia Bhd has formed a dedicated industry working group to enhance cyber resilience across the Malaysian stockbroking ecosystem. The establishment of the industry working group is a coordinated action, moving forward from the unauthorised trades incident on April 24. Bursa Malaysia CEO Datuk Fad'l Mohamed said the industry working group represents a concerted effort to strengthen the cyber resiliency of the country's trading ecosystem. 'The industry recognises that cyber resiliency is not just a technology best practice – it is the cornerstone of a trusted and vibrant capital market. A resilient ecosystem safeguards investor confidence, upholds market integrity, and ensures that our digital infrastructure can withstand and adapt to evolving threats,' he said in a statement today. The industry working group, chaired by Bursa Malaysia chief regulatory officer Julian M Hashim, comprises representatives from four bank-backed participating organisations (PO), two non-bank PO and two subject matter experts in the field of cybersecurity. The group held its inaugural meeting on Tuesday, where it finalised its terms of reference. Its mandate includes assessing current cybersecurity practices and identifying systemic vulnerabilities within the stockbroking ecosystem, developing industry-wide standards and best practices for information and communication technology risk management and incident response and recommending enhancements to regulatory frameworks and operational protocols to improve cyber resilience. Bursa Malaysia noted that the industry working group targets to finalise its recommendation paper within four months, with the subsequent implementation phase focused on the execution of the recommendations. Recognising the diversity in operational complexity across stockbroking firms, consultation with the industry will be carried out to ensure the recommendation paper is practical and fit for purpose. The establishment of the industry working group is part of a broader commitment to strengthen the industry's cyber resilience. In recent months, stockbroking firms have adopted precautionary measures such as mandatory password resets, enhanced monitoring of unusual logins, blocking suspicious Internet Protocol addresses, and issuing client alerts to ensure login details are always kept secure. In line with these efforts, Bursa Malaysia, on May 21 sent out a directive to mandate that all stockbroking firms implement multifactor authentication by the end of 2025. This requirement is a critical step towards enhancing the security of investor trading accounts and mitigating the risk of unauthorised access. Bursa Malaysia said it remains committed to safeguarding investor confidence and market stability through proactive regulatory leadership and collaborative action.
