A recent report emerged claiming that user records associated with Indian online brokerage firm Samco Securities are being sold by a hacker on a cybercrime forum. Samco Securities is a popular platform in India that offers discount broking trading accounts for the country’s stock exchanges.

The hacker, using a pseudonym, posted the allegedly breached data from Samco on the forum with intentions to sell it for an undisclosed amount. Upon verification by TechCrunch, a sample of the stolen data was found to contain personally identifiable information of over 3,000 account holders. This information included users’ full names, dates of birth, mobile numbers, email addresses, and government-issued permanent account numbers (PAN IDs).

In response to inquiries about the data breach, Samco Securities stated that they have not received any internal indications or reports of such an incident. However, as a precautionary measure, the company’s cybersecurity team is conducting a thorough review to ensure the integrity and security of their systems. They assured that they have stringent data protection protocols in place and continuously monitor their systems for potential vulnerabilities or breaches. If any issues are identified during the review, immediate and appropriate action will be taken, as stated by Manashvi Thakur, the compliance officer at Samco Securities.

Established in March 2015, Samco Securities offers a flat-fee brokerage and investment platform for trading in equities, futures and options, commodities, and currencies. The company has developed trading apps for both Android and iOS platforms, with millions of downloads to date.

This incident raises concerns about the security of personal data on online platforms, especially those handling sensitive financial information. Users of Samco Securities and similar platforms are advised to monitor their accounts closely, update their passwords regularly, and be cautious of any suspicious activity. It also highlights the importance for companies to prioritize cybersecurity measures and regularly assess their systems for potential vulnerabilities to prevent data breaches and protect their customers’ information.

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