Attempt of unauthorised access on broker Sharekhan's tech systems

However, the company confirmed that there has been no data breach

CYBER-ATTACK/FAILURES, hack representational image Representational Image | Reuters

One of India's leading stock brokerages Sharekhan has faced an attempt of "unauthorised access" to its IT systems. The company, which was acquired by French banking giant BNP Paribas in 2016, has sent a letter to its clients and customers as well as informed the regulators of the same.

“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,” Jaideep Arora, CEO of Sharekhan wrote in the letter.

The company did not disclose when the attempt to breach actually happened, but said to the best of its knowledge, it was limited to some unauthorised access to the 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,” said Arora.

Still, the company has automatically reset the password of the customers, which they will be prompted to change when logging in to their accounts.

One of the country's largest broking houses, Sharekhan offers trading in equities, derivatives and currencies. Through its platform one can also invest in mutual funds, bonds and initial public offerings. The company competes with the likes of ICICI Securities, Motilal Oswal and Prabhudas Lilladher. 

Founded in 2000, Sharekhan has 16 lakh customers, 153 branches and 2,400 business partners, spread across 575 locations. The company claims to be executing over 400,000 trades daily. 

Arora further added that the company was committed to privacy of customer data and continues to invest in robust cybersecurity measures.