KUALA LUMPUR: The recent disruption affecting several bank websites was believed to have occurred amid a surge in cyberattacks targeting Malaysia’s telecommunications and banking infrastructure.
Malaysia Cyber Consumer Association president Siraj Jalil said real-time threat maps from publicly accessible third-party sources indicated heightened cyberattack activity against the country.
He said previous incidents overseas showed that attacks on the banking sector could cause serious disruptions, citing Japan, Paraguay and France.
He added that Japan had previously recorded simultaneous attacks on 128 banks, causing severe system disruptions.
“There were also disruptions affecting several banks in Malaysia. However, we observed the swift action taken by our banking sector, with systems restored to normal within a short period,” he said.
Siraj said the National Cyber Security Agency’s move to raise the country’s cybersecurity threat level from low to moderate underscored the need for greater preparedness.
He said the impact of an attack depended on an institution’s level of readiness, including workforce capability, hardware and security systems.
While data breaches or more severe disruptions could not be ruled out, he said banking institutions were required to adhere to cybersecurity standards under Bank Negara Malaysia’s Risk Management in Technology Policy Document, alongside the Cyber Security Act.
“Disruptions to critical infrastructure do not only affect banking operations, but can also impact telecommunications, transportation and aviation services, causing difficulties in daily public affairs.
“The priority now is to ensure any intrusion is detected and addressed rapidly to prevent prolonged damage and service disruptions, thereby safeguarding the security of the nation’s critical infrastructure,” he said.
Meanwhile, cybersecurity expert and former CyberSecurity Malaysia (CSM) chief executive officer Datuk Dr Amirudin Abdul Wahab did not rule out the possibility of cyberattacks, particularly following reports of intrusions and the defacement of banking websites.
“The most critical task now is determining whether these incidents only involve customer-facing websites and access systems, or if they have compromised core banking systems, customer databases and financial transaction infrastructure.
“We must also confirm if there are customer data leaks or unauthorised transactions. This can only be determined through comprehensive digital forensic investigations,” he said.