As a result of the hacking of 11 officials’ email accounts, SEBI files a police report

According to Sebi, certain mitigating steps were implemented right away in response to the cyber security incident.

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On Saturday, the Securities and Exchange Board of India (SEBI) announced that it had reported a cyber security incident that it had discovered on its email system. The capital markets regulator did emphasise, though, that no sensitive information was taken.

The Securities and Exchange Board of India (Sebiemail )’s system was recently the target of a cyber security incident, the regulator stated in a statement. As a result, a FIR (First Information Report) has been filed in accordance with the applicable legal procedures.

Abhijit Chandrakant, an ISD manager, filed a complaint with Varunkumar Kishan Gopal, an assistant manager with the IT department of SEBI’s head office in Bandra-Kurla Complex (BKC), on May 23. Chandrakant suspected that his official email ID had been accessed by unauthorised parties and that emails had been sent from it. When Gopal checked the disaster recovery site of SEBI, he discovered that the email accounts of 11 officials had been h

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Sebi also stated that a number of immediate mitigating steps had been taken in response to the cyber security event, including, among other things, notifying CERT-IN in accordance with standard operating procedure and tightening the system’s necessary security configuration. Notably, CERT-In serves as the national nodal organisation for responding to issues involving computer security as they arise.

“It was a small incident. CERT-IN is fully in the loop. No sensitive data was lost. Root cause has been diagnosed and fixed. Prevention for future has been fully implemented,” according to an official spokesperson. The market regulator asserted that it keeps an eye on its detection and prevention systems and has strengthened security protocols for implementation and migration activities as a result of the occurrence.

In a related move, Sebi has mandated the attachment of a person’s bank accounts, shareholdings, and mutual fund holdings in order to collect around 18 crore in the Shree Ramkrishna Electro Controls Ltd. case. Following the company’s sale of redeemable cumulative preference shares (RCPS) to investors, Chandrakant Bhargav Gole was ordered to pay back the sum of 5.74 crore plus 15% interest annually, or 12.53 crore, according to a notice attached by Sebi on Thursday. During the pertinent time, Gole served as managing director of Shree Ramkrishna Electro Controls Ltd (SRECL).