Friday, June 14, 2024 Banner
HomeBusinessIndia’s securities depository CDSL claims malware compromised its network.

India’s securities depository CDSL claims malware compromised its network.

India’s largest central securities bank, Central Depository Services Limited CDSL claims its systems are infected with malware.

The depository for securities announced in an application in the Indian National Stock Exchange that it found malware that affected “a few of its internal machines.”

“As a matter of important notion, the company immediately unplugged the machines and disconnected itself from other important constituents of the capital market,” the document said.

CSDL has said that it continues to conduct an investigation, and it has “no reason to believe that any confidential information or the investor data has been compromised” as a result of the incident.

It still needs to disclose the precise details regarding the virus. As of the moment when this article was written, CDSL’s website was not working. The company did not say whether the two were connected.

Banali Banerjee, an agency spokesperson, confirmed that CDSL did not respond to any other questions they had, including whether the company keeps logs that permit it to know the extent to which, if any, data was smuggled through its networks. “We are working now towards resolutions,” the spokesperson told them.

The Mumbai-based CDSL boasts of managing and maintaining more than 75 million trading accounts, locally referred to as demat accounts of investors throughout the United States. The company also has the Bombay Stock Exchange, Standard Chartered Bank, and Life Insurance Corporation among its significant shareholders.

In 1999, the company was established. CDSL is the only publicly traded Indian and the nation’s second-largest bank after National Depository Services Limited, or NDSL, the first securities depository. CDSL permits the storage of securities and transactions in electronic format and facilitates trade settlements on exchanges.

“The CDSL team has reported the incident to the relevant authorities and is working with its cyber security advisors to analyze the impact,” the company stated in its annual report to the stock exchange.


Most Popular

Recent Comments