KUALA LUMPUR: The Securities Commission (SC) is making serious efforts to strengthen the capital market’s overall capabilities and ability to withstand cyber attacks. Chairman Datuk Seri Awang Adek Hussin said cyber resilience is imperative for all capital market participants and a significant priority for the SC. Other CMP3 initiatives are developing an approach to bolster the industry’s cyber defence capabilities as well as a framework to regulate technology risks more holistically, he added. Awang Adek said as cyber threats increase in volume and sophistication and as technology becomes more essential, cybersecurity requires a holistic approach that addresses both cyber and technology risks. The yearly Capital Market Cyber Simulation event is designed to simulate cyber event scenarios as close to the real situation as possible, and around 110 organisations across the capital market spectrum participated in the year’s exercise.

Source: The Star December 07, 2022 11:55 UTC