Understanding CTOS better



A lot of people do not clearly understand the meaning of CTOS and CCRIS. Even those who understand the meaning do not have idea about how it works. In the texts ahead, you will have some understanding of CTOS. It should be able to help you understand how you can make CTOS work to your advantage.




What is it?

CTOS check is simply a system for lead information. It is a system which has been incorporated by most of the businesses, financial institutions, and even the law firms. While CCRIS is owned by the Government, CTOS is not a government undertaking. It is owned by a private Malaysian company. This company has been in the business for couple of decades and collects the information regarding the businesses and individuals through the public domain sources. The collected information is then made useful by converting it into a digital database. This database gets quite handy as it is able to provide quick information. It helps the financial institutions to check the credits with the help of the database.



One needs to understand that it is not a blacklist as many think. CTOS will never provide any recommendations or rankings to any company or individual. CTOS does not determine whether the loan can be approved or not. Loan approval is solely in the hands of the financial institutions. Mortgage loan and loan for property are usually being processed by assessing both CTOS and CCRIS rating of applicants.

There is a widespread misconception that the records in CTOS are not updated. But this is not true. CTOS is just like any other electronic database which contains information obtained from the public sources. It always keeps updating the records whenever there are case settlements. If the information available in the public source is updated, CTOS records will also get updated.

The good thing about CTOS is that the records are saved for indefinite time and not 12 months like CCRIS.

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