Labuan, 2 October 2023 – Following the cybersecurity incident at end-April 2023, Labuan Financial Services Authority (FSA) had completed its system remediation and wish to inform that COR@L, the corporate online registry system for Labuan companies, has been restored and is now operational.

Over the prior weeks, Labuan FSA had worked closely with Mandiant, leading global cybersecurity experts to undertake an in-depth forensic investigation, resumption planning and comprehensive hardening of the systems based on the findings of the incident. The Authority’s priority was to ensure that key systems including COR@L are fully operational, secured and stable for Labuan company incorporations and registrations. Hardening measures include ensuring a strengthened IT environment with multi-layered protection mechanisms within the system and endpoints to better secure the ICT systems at Labuan FSA. It is Labuan FSA’s aims to ensure the integrity and security of its systems and data content remain protected at all times.

“Labuan FSA has taken this matter extremely seriously. We remain vigilant of the heightened risk in cybersecurity and will continue to enhance our security safeguards against these incidences. Data security has always been our foremost priority and we are committed to keeping our stakeholders’ information safe and secure,” said Labuan FSA Director General Nik Mohamed Din Nik Musa.

Labuan FSA will continue to promote good digital governance and strong cyber hygiene within Labuan IBFC to ensure the market remains resilient and prepared in the face of any cyber security risks.

Labuan Financial Services Authority
2 October 2023