Angel One data breach affects 7.9 million customers

Angel One, a prominent financial services company, has confirmed a significant data breach affecting approximately 7.9 million customers. According to The Economic Times, a hacker has leaked personal information on a public website, including names and addresses. The hacker claims to have accessed more sensitive data, such as profit and loss statements, which remain undisclosed.

 

Angel One responded, stating the breach pertains to an incident from April 2023 and assured no new data leak has occurred. The company emphasized that the security of customer data remains intact. “We want to confirm that Angel One’s customer data is secure and there has been no new data leak incident. The current issue pertains to an incident that occurred in April 2023, which was promptly reported to the relevant authorities. We assure you that this incident has no impact on client securities, funds, or credentials, and all client accounts remain secure,” a company representative said.

 

The April 2023 breach involved unauthorized access to customer names, mobile numbers, and email addresses. At the time, the company maintained that information related to funds and securities was secure.

 

The incident highlights growing cybersecurity concerns in India’s booming stock broking industry. As of March 2024, demat accounts in India reached an all-time high of 151 million, reflecting a surge in investment activity. Given the massive data influx, this increase has intensified the focus on cybersecurity.

 

In 2023, India faced over 2,100 weekly cyberattacks per organization, according to cybersecurity firm Check Point. Furthermore, Cisco’s 2024 Cybersecurity Readiness Index revealed that only 4% of Indian organizations have a ‘mature’ level of readiness for cybersecurity threats, with 37% at a ‘progressive’ stage. Globally, just 3% of organizations are considered ‘mature’ in their cybersecurity readiness.