Labuan Fsa’s Cor@l System Resumes Operation After Cybersecurity Incident

LABUAN, Oct 2 (Bernama) -- The Labuan Financial Services Authority (FSA) has successfully restored its corporate online registry system, COR@L, following a cybersecurity incident.

Labuan FSA director-general Nik Mohamed Din Nik Musa announced that the system is fully operational after weeks of intensive efforts to address the security breach. 

“Labuan FSA collaborated closely with Mandiant, a leading global cybersecurity firm, to conduct a thorough forensic investigation, develop a resumption plan and enhance the system security based on the incident's findings,” he said in a statement to Bernama today.

He also reiterated Labuan FSA's commitment to ensuring the integrity and security of its systems and data. 

“Data security has always been our foremost priority, and we are committed to keeping our stakeholders' information safe and secure,” said Nik Mohamed Din.

To bolster security, Labuan FSA has implemented a range of measures, including multi-layered protection mechanisms for both the system and endpoints. 

“These measures are designed to enhance cybersecurity and protect Labuan companies' data during incorporations and registrations,” he said.

He also emphasised Labuan FSA's dedication to promoting good digital governance and strong cyber hygiene within the Labuan International Business and Financial Centre to ensure the market's resilience and readiness to combat potential cybersecurity risks.

-- BERNAMA