was offered the position, but new comp wanna request for CTOS report.
very reluctant becoz dunwan personal things to be viewed by others.
What gonna be reflected in the CTOS report ?
anybody knows?

You credit utilization for sure be there

CTOS report gonna reflect all your current financial credibility and liabilities, a bit weird for a comp to ask for it because it is a bit personal i think.

my company case, they have subscribed with CTOS to pull any potential employee.

during interview, you will need to fill a form to authorize the company to pull your CTOS data out.

so i guess it's quite common nowaday.

pull 1 yourself then decide give or not

But why though? I mean why do they need the report for?

is this a FI/insurance related company?
If insurance or FI they will have a background check on your financial records as per required by Bank Negara.
Others not sure, but each company can have their own background check requirements, no?

This post has been edited by miyakochan89: Aug 17 2021, 02:18 PM

imho la.

blacklisted in ctos vs not in ctos la,

employee could embezzle your company money because no money
ah long can come knocking at your office in future looking for the employee

there could be other factor, but these two factor above can be very damaging to a company.

im not saying blacklisted person will do the thing above, but prevention is better.

This post has been edited by a13solut3: Aug 17 2021, 02:23 PM

jus mine or with spouse together also ? for example if house loan both spouse name also will reflect ?

i 1st time kena, so i also dunno, mayb wanna know if u are blacklisted or bankrupcy. but why does it relate to job offered.

its not finanace inst. related field. its more to consumer goods...
i am baffled as well.

if you have to many loans, you might be susceptible to bribery because you'll need the money. Risk management not happy
if you have too few loans, it means you don't need the income and they can offer you lower pay. HR happy

i am more afraid of what will be reflected in the report.
since most my acc, n loans have spouse name also..

any glc and mnc ada ini, they outsource 3rd party for checking, if you bancrupt or financial not stable, u will be not hired

if you want to work for them, then you have to play by their rules.

but i don't see any issue as im just a pipit, i have >10 credit cards and several loans but i don't see any issue disclosing them anyway.

my spouse details doesn't shows any sensitive information as well as you have to fill them in employment details.

all in all, i'm not the type that particularly paranoid to disclose my salary etc unless im actually earning or owning something far beyond my capability.

The company is infringing on your privacy.

They probably wanted to save money on the background check.

Depends on the company and industry.

to prevent embezzlement or corruption.it's normal for SOME of the companies. not just Malaysia, Singapore also same one.

i would have gladly do it, if i am offered company director post, or finanace manager post or accounts manager
my post not even related to those... guess hav to play their game

...I'm working for a bank, and they never asked for mine. tho if i/they/friends want to check it's quite simple.
it depends on the company i guess.

Is not a matter of what type of loan, with who, how much etc.

I guess the reason is to find out whether you are a 'responsible' person (borrower).

You think if is fair to share the info them .... you have to decide whether you want the job.

As much you can find info about the co in jobstreet, glassdoor, ssm etc without their knowledge.

Like that they can ask for your bank statement too...

TS job very high salary meh?

yup. my previous company, even the lowest rank (technicians) need to submit financial report. coz got cases before where technicians stole & pawned hundreds of ipads & laptops.

not high leh. ... jus cari makan level

not common at all, first time i heard company asked for CTOS report

Your loan/credit record, repayment history (on time or past due), if any bankruptcy filing/court cases etc.

If the company wants the CTOS report, they can buy it themselves.

If you want to join the company, then have to play the game la.
mostly big companies have extra resources to check all these things.
Also CTOS score can also show your characters also. if you have lower score, and always default your payments, then tahu-tahu lah.

Try say you don't want to give. Want to know what's their response

its not justified for employer to ask for this ; you're an employee not a business supplier where your credit worthiness needs to checked

some companies even do yearly assessment.
but shud be fine. they just want to protect themself.

thats NOT CTOS Report.....


CTOS only record bad debts records

deleted

This post has been edited by O-haiyo: Aug 17 2021, 04:37 PM

Is this a high rank position? even so, CCRIS, CTOS and personality & compatability test should be done by the employer discreetly. This is for private sector excluding financial sector. (unsure BNM rules for hiring)

Most big companies would ask u sign consent form n they would hire 3rd party vendor to do the background check or they would do it themselves.

Your case, they are giving u the trouble for it.

Just be honest, so details in ccris or ctos matches with what u say.

It's all about integrity.

I would nicely reject and ask why for that.

You say it is protected under pdpa and a Breach of personal data. Reject. If they need something ask Them prepare B n W. Dont listen to others who do not know

If your credit record is clean and you have no bad debts and never been sued for debt payment or bankruptcy why not? The company can buy your CTOS report even if you don't give permission.

It is there

It's a reflection of your financial health, fiduciary aptitude and thus to a certain extend, your personal capabilities and skillset.

If you are not able to manage your finances well, then one can extrapolate that you may not be able to perform your job as well. Of course, this usually depends on the job offered and the responsibilities.

for me those are personal things and company should not even ask for it

CTOS report will not disclose the amount of loan and credit card outstanding amount.

It will show your credit rating, whether you have lawsuit (sued by debtors), overdue/miss payment of loan/credit card/service charge. (usually unpaid more than 2 months).

Few examples will list you on CTOS blacklist:

1. Unpaid overdue of broadband bill, phone installment, credit card bill, etc
2. Unpaid overdue hire purchase loan
3. Unpaid overdue of mortgage loan
4. Unpaid overdue of condo management fee
5. Someone sue you for money owe

This post has been edited by p4n6: Aug 17 2021, 09:31 PM

Also shows your business ownership as well under Sect C iirc

Listening to you means reject job.

Listening to you forever cannot apply bank loans.

Listening to you means raise white flag.

My guess they use it for a bankruptcy check. It's a norm for some companies to not hire bankrupts.

https://www.monster.com/career-advice/artic...Your-Job-Search

You can read the above, although not Malaysia specific, but in generals some companies will take this route.