Angel One Probes Security Breach, Assessing Potential Impact

“Angel One announced on Friday that its Amazon Web Services (AWS) resources have been compromised and an external forensic firm has been hired to assess the damage. The company's shares, which have been under selling pressure amid a weak market were further impacted following the news and losses extended to as much as 4.7 percent. In an exchange filing, the company said, 'We have verified that this breach does not have an impact on clients’ securities, funds, and credentials. All our client accounts are secure'. It did not provide additional detail on the breach which has become part of a wider range of cyber attacks targeting Indian businesses, particularly insures. Niva Bupa Health Insurance noted this particular cyber incidents last week while HDFC Life Insurance and Star Health were some of the more prominent names that resulted in a sweeping order from the regulator for insurance IT systems to be fully audited. Further the Reserve Bank of India, also the country's financial regulator, said it plans to use secure website domain names to reduce phishing and other online threats.”