Many people have heard about CTOS, but they are less familiar with its other counterpart called CCRIS or the Central Credit Reference Information System. Both CTOS and CCRIS have similarities but also have their differences.

What is CCRIS?

CCRIS is an online credit information website that carries the data reported by the Credit Bureau and currently, there is information on more than 9 million debtors on this website. CCRIS is set up and managed by Bank Negara Malaysia. CCRIS, along with its privately established counterpart CTOS are the two main source of reference for banks or lending institutions when processing a loan application.

Why did Bank Negara Malaysia set up CCRIS?

One of Bank Negara’s responsibilities is to regulate the credit levels of individuals and companies in the country so that the economy is stable and is not affected by high levels of debt. This also includes ensuring that financial institutions like banks don’t take too high a risk by lending to people who cannot repay the loans. Hence the CCRIS system which helps banks make decisions.

Who administers CCRIS?

CCRIS is administered and maintained by Bank Negara’s Credit Bureau. The Credit Bureau is also in charge of gathering information on debtors and putting it online. The credit bureau’s staff will liaise with banks and other lending institutions to provide the necessary information

How can I prevent the Credit Bureau getting information on me?

The simple answer is that you can’t. The credit bureau has the legal right to collect and keep any credit information on you or your companies.

What does CCRIS report on?

CCRIS reports on any outstanding loans, repayment behaviour, special attention accounts (like non-performing loans) and any applications for loans you have made. All records are usually kept for 12 months.

Who can see my CCRIS profile?

Only the bank you are applying a loan from has the right to view your profile. It is illegal for any other institution or individual to look your profile up without any good reason.

Can I view my own profile?

Yes, you are legally allowed to petition Bank Negara to let you see your own CCRIS report. However, you have to apply to view the report yourself and cannot appoint someone else to retrieve the report for you. You also cannot retrieve reports for someone else.

An exception is made if you are requesting on behalf of a closed relative who is deceased.

What aspects of a CCRIS report do the banks look at?

Usually the banks are interested in:
• Accounts under legal action
• Poor repayment habits, like missed payments, delayed payments, etc
• Pushing the credit limits on your credit card
• High debt servicing ratio, meaning your income Is small but the loans are high
• How many other loans you are shouldering at the current time