Now, hackers target Sharekhan online stock trading platform

Hackers are now targeting online stock trading platforms. BNP Paribas Group controlled Sharekhan, one of the first brokers to offer online trading in India, has informed financial regulators that it recently became aware of an unauthorised access to its IT systems. It is the backbone that allows execution of more than 400,000 trades daily at the broking firm.

Founded in 2000 and a subsidiary of BNP Paribas since November 2016, Sharekhan has over 1.6 million clients, 153 branches, and more than 2,500 business partners. Sharekhan started out with stock broking, and over the years widened its portfolio to research, portfolio management, mutual funds and investor education.

“We recently became aware of an unauthorised access to our IT systems and take any such information very seriously. Our team of in-house technology experts and external specialists quickly took steps to determine the nature and scope of the unauthorised access. We have also informed regulators” Sharekhan CEO Jaideep Arora wrote to customers.

Sharekhan is one of biggest retail stockbrokers and competes with ICICI Securities, HDFC Securities, and Axis Securities amongst others.

Arora said to the best of the company’s knowledge, the unauthorised access to IT systems event is limited to some unauthorised access to profile information.

“We can tell you now that there have not been any unauthorised transactions, or access to your accounts, your transactional data or your personal secured access to Trade Tiger, mobile application or website and as such there is no financial impact for you,” Arora claimed.

However, Sharekhan said it has automatically reset the passwords of investor accounts as a precautionary measure. Following the acquisition by BNP Paribas, Sharekhan plans to invest in digital technology to drive the brand to become one of the preferred investment partners in India.

Source: DNA