Angel One Responds to Data Breach Reports: Ensures Customer Data Security

Financial services company Angel One has been at the center of data breach allegations, with reports claiming that nearly 8 million customers' personal information was compromised. According to The Economic Times, a hacker leaked sensitive data, including names, addresses, and profit and loss statements of affected users, on a website. The breach reportedly involves data from around 2023, accessed by malicious actors.

Angel One's Assurance

Angel One has firmly stated that there has been no new data leak. The company clarified that the reported incident is related to a breach from April 2023, which was immediately reported to the authorities. "We assure you that this incident has no impact on client securities, funds, or credentials, and all client accounts remain secure," the Mumbai-based firm emphasized. The company reassured customers that their data remains protected and that no new breaches have occurred.

Historical Context

This isn't the first time Angel One has faced such challenges. In April of the previous year, the company experienced a data breach. At that time, while the number of affected customers was not disclosed, Angel One confirmed that critical information related to funds and securities was secure. The breach had exposed names, mobile numbers, and email addresses of users, but no financial data was compromised.

Broader Cybersecurity Landscape

The broader context of cybersecurity in India reveals a troubling scenario. According to cybersecurity firm Check Point, India witnessed an average of 2,138 weekly attacks per organization in 2023. Cisco’s 2024 Cybersecurity Readiness Index further highlights that only 4% of Indian organizations are at a ‘mature’ level of readiness to tackle cybersecurity risks, with 37% at the ‘progressive’ stage.

While the recent reports of a massive data breach at Angel One have raised concerns, the company's prompt response and assurance of no new leaks provide some relief. As cyber threats continue to escalate, organizations must bolster their security measures to protect sensitive customer data. Angel One's experience underscores the critical importance of robust cybersecurity practices in today's digital age.