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Some people have questions and reservations about their credit reports. The first step to better understand your credit reports is to first grasp the difference between CTOS and CCRIS. Credit reports in Malaysia are drawn up by two sources which are CTOS and CCRIS. The Credit Bureau of the Bank Negara which has been in administration since 1982 operates the CCRIS, short for Central Credit Reference Information System. All credit information about creditors or borrowers are stored in a computer base which is CCRIS. A credit report is prepared by most financial institutions in Malaysia on a monthly basis and are sent to Credit Bureau in Bank Negara Malaysia. A CCRIS credit report typically entails your total credits, interest charges, and other remaining charges from the loans you carry with banks. This include personal loans, housing loans, credit card, hire purchase and overdraft. When a person applies for a bank loan, the CCRIS helps to give a summary to the bank officer to evaluate the financial standing and capability of the person that applied for the new bank loan. When a bankruptcy has been filed, CCRIS also notifies the bank with these information.


CTOS or CTOS Data Systems Sdn Bhd is a company that gathers and generates credit reports and have been in business for more than 20 years. CTOS, which stands for (Credit Tip-Off System) is in posession and is operated by a Malaysian company while CCRIS is suported by Bank Negara Malaysia (BNM). CTOS is a dominant information system that collects data on individuals and companies from different origins found in civil spheres. CTOS is a computer database that turns all information of credit history into an efficient and quick format for loan applications to be evaluated and processed. At the same time, CTOS also provides services to individuals and busineses for monitoring their own credit background and profiles before committing to other important financial decisions.

One might wonder how CTOS accumulates these credit data from and where. CTOS compiles these information from public sources such as National Registration Department (NRD), legal proceedings and notices that are published in newspapers and government gazettes, Companies Commission of Malaysia (CCM), Malaysia Insolvency Department, subscribers’ contributions of litigation reports, findings from the Registrar of Societies (ROS), contact details given by creditors, litigators or trade referees and personal information that is self provided by the subjects themselves.

CTOS is not accessible to the public but only to those who subscribe to the CTOS database.

There are some myths about CTOS and one of the is that it is a blacklist. CTOS is not responsible of determining the credit capability of any individuals, businesses and companies. CTOS is not responsible for the approval or decision making of lending policies and loan authorizations are made only by the lenders or credit garantors. Therefore, if your application has been rejected by one financial institution, it does not mean it will be rejected again by another. However, undischarged bankruptices and wounded up companies are an exception. Another mistaken belief about CTOS is that it’s records are not updated regularly. New information of case settlements about plaintiffs, defendants and lawyers that are obtained from public circle is updated into the electronic system of CTOS whenever they are available.

There are five parts of information that make up a CTOS report. Section A is identity verifcation where it distinguishes the identity and verifies the subject’s full name, identity number, company or busines registration number to nail and avoid fraud and identify theft. Section B which is the internal list or group exposure is information about business experiences with their customers and is for the record of the subscriber and can only be seen by the staff of the subscriber.
Section C involes directorships and and business interests where information about the subject’s directorships and shareholdings in Malaysian assimilated companies and business. This is used by banks to analyze and authenticate the workings of subject’s plausible income particularly for company shareholders and business owners. Legal information is documented and is called legal action against in Section D. It gives a more comprehensive picture on the background of the subject, history and business experience. Finally, Section E includes referees and subject’s comments Trade referees are subjects who want to share their business experience also called as “trade references” and these information belongs to the subjects themselves and not CTOS. Hence, any communication from the person asking is done through email and is sent directly to the subject. Subject’s comments is a space CTOS has created to allow subjects to present their own truth in a case where it applies.

Records are kept for 12 months in CCRIS while the period of time that records exist in CTOS is infinite and stored as historical archive of the subject’s history and experiences. It is possible to have a self-check report at CTOS through registration at their office or through online registration. It is important to note that each financial situation has their own appointed protocol guidelines and risk abilities when appraising your application through the information provided by CTOS.

Reports in CTOS can be removed or deleted if you can provide official proof in the case of fraud or mistakes. Following the requirements of the Credit Reporting Act (CRA), cases that have been resolved for more than 2 years will cease to be in record.

There is no payment required to obtain a CTOS report. Decision about approval or rejection around application is executed by lender themselves. To receive a CTOS report, you first need to register for a CTOS user ID. Once it has been authenticated, you will be able to access the reports anytime over the Internet or the CTOS smartphone app. CTOS will not release the credit report without your approval. According to the Credit Reporting Agency 2010, a consent is required through a consent applicatiom form before reports are dispensed to a third party.The Credit Reporting Agencies are legally entitled to draw and retrieve information about you so it is not possible to avoid having credit records being found and stored in the system. It’s crucial to note that CCRIS keeps unpaid or active accounts and applications for credit in the last 12 months while CTOS keeps records for an indenfite period of time.