New Act’s role in cybersecurity

MANY governments are passing national cybersecurity regulations and Malaysia recently joined the bandwagon when the Cyber Security Act 2024 (CSA) came into force three months ago.

The CSA requires affected companies to conduct risk assessments and audits periodically. Breaches or hacks must be reported. Non-compliance could result in heavy penalties of up to RM500,000 in fines or worse, a 10-year prison term.