Some of India’s most successful consumer internet startups and companies are based on data rather than venture capital or private equity funds. How they store this data, which is usually confidential and personally identifiable customer data, is a hot topic of discussion these days. Personalising services by gathering consumer details has surely led to betterment in the company’s services and has brought growth in revenue. Yet amidst a great deal of data breaches happening every now and then, is the trade-off still worth it?
Phoenix Technocyber is an Indian-origin cybersecurity company of highly skilled whitehackers with world-class certifications. The company in its most recent round of regular operations, involving the monitoring of deep web and dark web activities and updates, reported that it came across data of confidential nature allegedly belonging to Findoc Investmart Private Limited, now leaked onto the dark web.
Findoc Group is a conglomerate which is well-diversed and provides financial services of exceptional kind to its customers. Stock broking, Algo Trading, currency hedging, derivative trading, commodity trading, currency trading, IPOs, and mutual fund investments are among the services provided by the Group.
A snapshot of the data leaked, from dark web
Over 7400 Findoc Investmart Pvt. Ltd. data is available on the dark web for free download. This has apparently been availed onto the platform since April 5 2021.
However, the company has not come up with any kind of an official statement to respond to the ongoing breach of customer faith and the consequences or solution henceforth. The leaked data includes details like that of the Client ID, Full Name, Mobile Number, Email, PAN and Bank details.
As Findoc Investmart Private Limited is a stock broker registered with SEBI, they are required to conduct appropriate reporting to the regulator(SEBI) in line with Circular No.: SEBI/HO/MIRSD/CIR/PB/2018/147 on Cyber Security & Cyber Resilience framework for Stock Brokers / Depository Participants.