The Malaysia Cabinet has approved the proposed amendments to the Personal Data Protection Act 2010 (Act 709). These amendments are expected to be tabled in the current Parliamentary session taking place up until 18 July 2024.

The new Cyber Security Bill 2024 (“Bill”) was tabled for first reading at the Malaysian Parliament on 25 March 2024. The Bill aims to provide a regulatory framework for the safeguarding of Malaysia’s cyber security landscape by requiring national critical information infrastructure entities to comply with certain measures, standards and processes in the management of the cyber security threats and cyber security incidents. To achieve such objectives, the Bill provides for, among others, the establishment of the National Cyber Security Committee, the duties and powers of the Chief Executive, the appointment of national critical information infrastructure sector leads, the designation of national critical information infrastructure entities and the licensing of cyber security service providers.

The new Cyber Security Bill 2024 (“Bill”) was tabled for first reading at the Malaysian Parliament on 25 March 2024. The Bill aims to provide a regulatory framework for the safeguarding of Malaysia’s cybersecurity landscape by requiring national critical information infrastructure entities to comply with certain measures, standards and processes in the management of the cybersecurity threats and cybersecurity incidents. To achieve such objectives, the Bill provides for, among others, the establishment of the National Cyber Security Committee, the duties and powers of the Chief Executive, the appointment of national critical information infrastructure sector leads, the designation of national critical information infrastructure entities and the licensing of cybersecurity service providers.

Bank Negara Malaysia (i.e., the Central Bank of Malaysia) (BNM) had on 1 June 2023 updated its existing Risk Management in Technology Policy Document to provide further guidance on the use of cloud services to be adopted by selected financial institutions. These changes take effect on 1 June 2023 (for licensed digital banks and licensed Islamic digital banks) and 1 June 2024 (for all other financial institutions).