BSE urges market players to enhance cybersecurity amid rising threats

BSE has asked brokers and traders to assess their systems and implement cybersecurity measures in line with Sebi's CSCRF after a CERT-In warning on BFSI sector

Stock exchanges on Thursday urged market participants to implement immediate precautionary measures to safeguard their systems and ensure a secure marketplace. This came after an advisory was issued by the Indian Computer Emergency Response Team (CERT-In) on Wednesday.

 

“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 (Distributed Denial-of-Service) attacks, website defacement and malware,” the BSE said in a statement.

 

Amid rising tensions between India and Pakistan, the Ministry of Electronics and Information Technology (MeitY) had issued a critical advisory warning of a sophisticated cyber threat campaign targeting organisations in the banking, financial services, and insurance (BFSI) sector. 

 

 

BSE has directed all brokers to take steps to check if necessary security controls align with the Securities and Exchange Board of India’s (Sebi) Cybersecurity and Cyber Resilience Framework (CSCRF) issued on August 20, 2024.

 

Further, the exchange asked trading members to “conduct risk assessment and mitigate any finding; beef up security monitoring of the systems with appropriate incident response plans; utilise threat intelligence from CERT-In and NCIIPC (National Critical Information Infrastructure Protection Centre), and take necessary action on alerts/advisories released; increase threat-hunting activities and report incidents to exchanges and regulators as per defined timelines.”