BSE issues cyber risk advisory to market participants amid rising threats

To avoid potential cyber attacks, the BSE and NSE also took precautionary measures by blocking their websites for international users, sources told news agency

Stock exchange BSE India, on Wednesday, advised market participants to take precautionary measures on potential cyber risks. The advisory comes amid soaring tensions between India and Pakistan after the Pahalgam terrorist attack that claimed the lives of 26 people.

 

The circular from BSE cited an advisory from Indian Computer Emergency Response Team (CERT-In) highlighting on cyber threat campaign specifically targeting Indian organisations operating within the Banking, Financial Services, and Insurance (BFSI) sector.

 

“Market participants are particularly advised to take precautionary measures on potential cyber risks including high-impact cyber-attacks such as ransomware, supply chain intrusions, DDoS attacks, website defacement and malware,” the BSE added.

 

The BSE and NSE also took precautionary measures by blocking their websites for international users, sources told PTI.

 

Banks beef up security

Meanwhile, the banks have also tightened their cyber security network to ward off any cyber threat after India launched ‘Operation Sindoor’ targetting nine terrorist sites in Pakistan and Pakistan-occupied Jammu & Kashmir.

 

“We have strengthened the cyber security mechanism... we have created a 24-hour war room to diffuse any cyber attack... we are prepared for any eventuality,” Punjab National Bank MD and CEO Ashok Chandra said, as quoted by PTI.

 

Centre steps up vigil

The heightened security measures follow a directive from the Centre, which has instructed all digital systems to stay on high alert amid concerns of potential cyberattacks on critical infrastructure, sources told Business Standard on Wednesday. Key assets under watch include power generating stations, national electricity grid, banks, hospitals, defence installations, telecom companies, and public sector enterprises (PSEs).

 

Moreover, CERT-In has received direction from the Ministry of Electronics and Information Technology (MeitY) to maintain continuous vigilance against potential cyber threats, including distributed denial of service (DDoS) attacks, malware, denial of service (DoS) attempts, and social engineering tactics, a senior government official said.