FAQs

a. What is PPK?
PPK is the acronym for the Registrar Office of Credit Reporting Agencies (PPK), which is an agency under the Ministry of Finance (MoF). It was established based on the requirements of the Credit Reporting Agencies Act 2010 (Act 710).

b. Who should be registered with PPK?
Any person or companies who carries out a credit reporting business must submit an application to be registered as a credit reporting agency (CRA).

c. Why was PPK establish?
PPK was established to uphold consumer protection and privacy rights of the consumer's credit data by establishing a regulatory framework for credit reporting agencies (CRA). Guided by the Credit Reporting Agencies Act 2010 (Act 710), PPK is the main platform for the government to regulate the industry. Problems such as inaccurate credit information, not updated, incomplete, identity thefts, aging records, consumer information and rights are addressed more efficiently and systematically by PPK. This is to support a healthy environment for the development of the credit reporting industry in Malaysia.

d. Does PPK supervise CCRIS?
No. CCRIS which is the Central Credit Reference Information System is under the supervision of the Central Bank (BNM) and is subject to the Bank Negara Malaysia Act 2009.

a. What is the register of credit reporting agencies (CRA)?
The register of credit reporting agencies is a register developed and maintained by the Registrar Office of Credit Reporting Agencies (PPK). It contains the names and address or any other details of all credit reporting agencies (CRA) that is registered in Malaysia.

b. Will the public be able to access the register of credit reporting agencies (CRA)?
Yes, the register of credit reporting agencies is available for access by the public in the portal of Registrar Office of Credit Reporting Agencies (PPK), but subjected to such conditions as determined by the Registrar.

a. What is a credit reporting business?
Credit reporting business is a business that involves the collection and processing of credit information for the purpose of granting a credit report to others, whether for profit, reward or otherwise.

b. Are the activities of credit reporting agencies (CRA) being regulated?
Yes. credit reporting agencies (CRA) are required to operate within the provisions set forth in the Credit Reporting Agencies Act 2010 (Act 710).

c. What is the relationship between financial institutions and credit reporting agencies (CRA)?
During the processing of a loan application, financial institutions will carry out a credit assessment of the borrower such as background checks from various sources, such as information provided by the credit reporting agencies like Credit Bureau Malaysia Sdn Bhd , Experian Information Services (Malaysia) Sdn Bhd , CTOS Data System Sdn Bhd , CTOS Basis Sdn Bhd , Dun & Bradstreet (Malaysia) Sdn Bhd, FIS Data Reference Shd Bhd , CRIF Omesti Sdn Bhd and MARC Data Sdn Bhd . The information provided through a credit report can help financial institutions in their evaluation process. Financial institutions may use all available information to help them make prudent decisions before granting credit.

d. Is an individual allowed access to their credit report?
Yes. The individual concerned may apply to a credit reporting agency to access their own credit report in order to verify the accuracy of information reported in their credit report.

e. What if a credit reporting agency (CRA) carrying out credit reporting business refuse to register as a credit reporting agency with PPK?
The prohibition for an agency from carrying out credit reporting business unless registered is stated under section 11 of the Credit Reporting Agencies Act 2010 (Act 710). In the event of such an offence, upon conviction, the person is liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding three years or to both.

f. Does the credit reporting agency determine the decision of a financial institution to grant credit simply through the review of a credit report?
No. credit reporting agencies (CRA) are not involved in the credit decision-making of the financial institutions. Credit reports only provide the facts as reported without any view on the credit worthiness of an individual. The financial institution will make its own decision based on all the information made available to them, including credit reports provided by credit reporting agency, information provided in the credit application documents and other supporting documents.

g. What is the implications if i disagree to give consent to the credit reporting agencies (CRA) to disclose my credit report to financial institutions?
If you do not give your permission (consent) to a credit reporting agency (CRA) to disclose your credit report, there is a possibility that your loan application will not be processed further by the financial institution as the information from the credit report is an essential element for financial institutions to conduct credit worthiness assessment.

h. What shall i do if a credit reporting agency (CRA) disclose my credit report to a third party without obtaining prior consent?
You can make a complaint and submit any supporting documents or relevant evidence to enable the PPK to initiate an investigation on the complaint.

i. Can i get my credit report from PPK?
No. You have to deal directly with the registered credit reporting agencies (CRA) to obtain your credit report.

a. What is the Credit Reporting Agencies Act 2010 (Act 710)?
Credit Reporting Agencies Act 2010 (Act 710) was enacted to provide for the registration and regulation of credit reporting business and any other matters related. This Act was passed by the Parliament of Malaysia during the First Meeting of the Third Session of the Twelve Parliament. Overall, the Act aims to provide the proper protection on the handling of credit data by providing a law to regulate the credit reporting industry.

b. What is the responsibilities of credit reporting agencies (CRA) that have been registered with PPK?
Under the Credit Reporting Agencies Act 2010 (Act 710), the credit reporting agency (CRA) is responsible for updating the information collected and complies with all relevant provisions of the Act. The credit reporting agency must also allow the public to access their own credit information. The Act also binds credit reporting agencies to obtain data subjects’ consent before disclosing the credit reports to third parties such as financial institutions.

c. What is the authority and functions of the Registrar of Credit Reporting Agencies (PPK)?
The Registrar have all such powers to do all things necessary or expedient for or in connection with the performance of its functions under the Act.

d. What are the procedures to register as a credit reporting agency?
An applicant must submit a written application via the Registration Form, which can be downloaded via the PPK portal at http://ppapk.treasury.gov.my. For more information on the registration procedures, you may refer to the Credit Reporting Agencies (Registration) Regulations 2014, which is also available at the PPK portal.

e. Are there any specific criteria, terms or conditions to be complied by the agencies before applying for registration?
Yes. There are a number of specific criteria, standard conditions and restrictions to be observed by the agencies to qualify as registered credit reporting agencies (CRA). Furthermore, additional conditions and restrictions may be imposed by the Registrar if necessary. For more information, please refer to the Third Schedule of the Credit Reporting Agencies (Registration) Regulations 2014.

a. Can PPK facilitate me to obtain credit from a financial institution?
No. PPK had no authority to direct the financial institution to approve customer's credit application.

b. What is the fee charged for copy of a credit report?
Each credit reporting agencies charge different fees according to their cost incurred, and the credit reporting agencies have the right to charge the fee as approved by the Registrar of Credit Reporting Agencies for every credit report issued.

c. I was told that my name was listed on the database records of a credit reporting agency, that is CTOS Database Systems Sdn Bhd how do i update my records?
CTOS Data Systems Sdn Bhd (CTOS) is a registered credit reporting agency (CRA) under the supervision of PPK. You can contact CTOS at 03-2722 8833 for further information or visit the CTOS office to verify and update records in your credit report.

d.Are my chances of getting credit be affected with my records being kept by the credit reporting agencies (CRA)?
No. The information contained in the credit report, either positive or negative is termed as ‘leading information’ for the financial institutions to conduct credit worthiness assessment. Financial institutions have guidelines, business strategies and internal policies to analyse the financial situation of a borrower and any final decision to approve or reject a credit application lies entirely in the hands of the financial institution.

e. Does a credit reporting agencies (CRA) have the authority to blacklist a customer if the customer have a bad credit record?
No. credit reporting agencies (CRA) do not have the power to blacklist any individual on the basis of credit reports issued. The notion of the credit reporting agencies able to blacklist a customer is a wrong notion. All information contained in a credit reports only serves as ‘leading information’ to the financial institutions. The decision to approve or reject a credit application lies with the financial institutions based on the inputs gathered and their internal policy.

f. I have to settle the debt for a loan, but the history of such loan is still available in the credit report. what should i do?
A credit reporting agency (CRA) shall not include any information in relation to any default in repayment of credit two years after the date of final settlement of the amount in default, including the settlement of the amounts payable pursuant to a scheme of arrangement with the credit provider.

g. Will i be able to delete my personal records with each credit reporting agency (CRA)?
No. credit reporting agencies (CRA) are allowed to disclose credit information for a specific period of time. Nevertheless, you are advised to make regular checks on your credit report at each credit reporting agency (CRA) to ensure that all information in your credit report is accurate, complete and updated according to the current status.

h. My loan application was rejected by the financial institutions due to bad credit history as reflected in the credit report. what should i do to improve my credit rating?
Records and bad credit history are likely due to several factors such as court cases due to outstanding debts with the financial institution or outstanding payments not made on time. You are advised to discuss and get advice on repayment scheme with the financial institutions. Your credit record will show a much better position when your account is back in order and repayments are recorded on time.

i. I have been declared free from bankruptcy. nevertheless, i still find the bankruptcy status in my credit report and this have been a problem in my loan application. what steps should i take to solve this problem?
For your information, the Act stipulates that each credit reporting agency is not allowed to disclose information about individual bankruptcy status after a period of two years after the date the individual is discharged from bankruptcy. Accordingly, you are advised to bring documentation to the credit reporting agency (CRA) to update the information in your credit report.

j. What shall i do if i find a credit reporting agency (CRA) misusing my credit information for marketing purposes? or “cross selling” without my consent?
If you have evidence, you are advised to lodge a complaint to PPK and an investigation will be initiated.