'Data breach in trading platform has put millions of customers at risk'

Representational image

Information, pertaining to more than 3.4 million customers, stands compromised following a serious data breach in a leading online trading platform in India, according to cybersecurity and big data startup Technisanct.

The customers' data has been put up for sale on a data sharing platform on June 15 and the incident has been reported to Computer Emergency Response Team (CERT) by Technisanct.

Nandakishore Harikumar, founder and CEO of Technisanct said that such incidents raise the possibilities of financial frauds among Indians.

He said that the details in the database could be used by Cyber Criminals to target the victims of breach through various scams via online and phone.

"The lack of data security authority in India has resulted in a massive increase in the number of such cases. Even while breaches are identified, non-existence of a regulatory body paves way to repeated breaches with the same brand", he added.

The leaked data include Personal Identifiable Information (PII) such as name, customer ID, contact number, email ID, trade login ID, branch ID, city and country.

The security breach was identified by Technisanct's digital risk monitoring tool 'Integrite'.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel