India markets regulator penalises depository over 2022 malware attack

MUMBAI, July 20 : India's markets regulator on Monday imposed a fine of 10 million rupees on Central Depository Services (India) Ltd (CDSL) for multiple cybersecurity and compliance failures linked to a malware attack that disrupted depository operations in November 2022. Here are the key details• The regulator said the Indian depository, which handles 83 million, or 70 per cent of the country's investor accounts, had failed to classify an internet-facing server as a critical asset and to safeguard it, despite rules requiring such systems to be treated as such.• This server was the root cause of the malware attack. By failing to secure this asset, the depository allowed cyber threats to gain access to its systems.• SEBI also found that the depository failed to detect intrusions in real tim