Motilal Oswal Financial Services Faces Cyber Attack

According to a report by technology news portal TechCrunch, the broking firm Motilal Oswal Financial Services has fallen victim to a cyber attack by LockBit, which claimed to have gained access to ‘confidential data,’ according to a report by technology news portal TechCrunch.

Potential Risk to Millions of Motilal Oswal Clients’ Information:

LockBit, a ransomware group, claimed responsibility for the attack on its dark web, potentially risking the information of over six million clients of MOFSL. The attack could also jeopardize company data for its other businesses, including asset management and investment banking.

Typically, cybercriminals extort ransom payments from their victims or threaten to publish the stolen data.

Response from Computer Emergency Response Team (CERT-In):

According to the TechCrunch report, the Computer Emergency Response Team (CERT-In) was in the process of taking action.

The TechCrunch report stated that the government agency, in an email response, said that it was aware of the matter and was already in the process of taking appropriate action.

Previous Attacks by LockBit Group in India:

Last year, the LockBit group attacked Indian pharmaceutical company Granules India and India’s state-owned National Aerospace Laboratories, as per TechCrunch.

Last year, another broking firm, Angel One, also suffered a breach when certain unauthorized players accessed client information like names, emails, and mobile numbers.

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