After several Indians received calls from an international number threatening to target the BSE and the National Stock Exchange (NSE), the Department of Telecommunications (DoT) conducted an investigation. Based on its findings, the DoT has urged the Ministry of Finance and the Securities and Exchange Board of India (SEBI) to prioritise and strengthen cybersecurity measures at both stock exchanges, according sources.
The DoT has also directed international long distance operators to block incoming calls from the concerned international number.
Since January 1, several Indian citizens, including journalists, received calls from a UK-registered number (+447537129537) asking them "to dump Indian stocks and invest in US stocks before March 12 as BSE and NSE will be destroyed". The recorded message claims to be from Gurpatwant Singh Pannun, the Khalistani separatist leader.
According to information available with Moneycontrol, the Ministry of Home Affairs (MHA) and the Indian Computer Emergency Response Team (CERT-In), apart from a few users, reported to DoT about such instances.
The DoT investigation into such calls involved tracing back the numbers. Through that process, it was able to conclude that the incoming calls were indeed international, according to sources.
Following that, sources said, telecom service providers (TSPs) were asked to analyse calls received from that particular international number. It was confirmed that many Indians received call from that particular number, sources said.
Apart from issuing directions to operators to block incoming international calls from the number, the DoT has also asked SEBI and Department of Economic Affairs (under the Finance Ministry) to take appropriate steps to ensure cyber security of the information and communication technology (ICT) infrastructure of the BSE and the NSE.
The DoT has also urged citizens to report to the department or TSPs, if such calls are received.
In addition to the threats made on the BSE and the NSE, the message, which claimed to be from the separatist leader Pannun, also threatened to "break the backbone of the Indian economy."
Pannun's calls to "destroy" the stock exchanges on March 12 coincide with the 31st anniversary of the Mumbai serial blasts. In that attack, the BSE building was one of the targets. This issue was first reported by News18.
New Telecom Act and cybersecurity
In December 2023, the Parliament passed The Telecommunications Act 2023, which will now supersede the existing regulatory framework for the telecommunications sector, based on the Indian Telegraph Act of 1885, the Wireless Telegraphy Act of 1933, and the Telegraph Wires (Unlawful Possession) Act of 1950.
The Act will empower the Centre to establish rules for the protection and assurance of cybersecurity in telecommunication networks and services.
The measures may encompass a range of actions such as the collection, analysis and dissemination of traffic data within telecommunication networks.
The Centre will also have the authority to declare any telecommunication network or part thereof as "Critical Telecommunication Infrastructure.
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