Home / Business and Economy / India Regulator Fines CDSL 10M Rupees Over Cyber Flaws
India Regulator Fines CDSL 10M Rupees Over Cyber Flaws
20 Jul
Summary
- CDSL received a 10 million rupee fine from India's market regulator.
- The fine addresses cybersecurity and compliance failures.
- These issues stemmed from a malware attack in November 2022.
India's securities markets regulator has levied a substantial fine of 10 million rupees against Central Depository Services (India) Ltd (CDSL). This action comes as a direct consequence of multiple cybersecurity and compliance failures identified within the organization.
The failures are specifically linked to a significant malware attack that occurred in November 2022. This incident caused considerable disruption to CDSL's depository operations, highlighting vulnerabilities in their systems. The fine serves as a strong reminder of the need for stringent security protocols in the financial sector.
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