JAIPUR: A city brokerage firm paid dearly for lapses in computer security after someone hacked into its network and defrauded it of Rs 2.32 crore by extending the share purchase limits of four defunct accounts. The hackers then "purchased" the shares of a company listed on the Bombay Stock Exchange (BSE) on alarmingly high prices using the firm's network.
The police with help of cyber crime experts have now tracked some suspects and shot off a letter to the BSE for seizing payment to the seller of the shares. Police suspect the same gang had been involved in defrauding another brokerage firm in Kolkata of Rs 6 crore. One gang member, belonging to Jhunjhunu, has been identified.
According to the police, Rajesh Kumar, representative of the brokerage firm, Navjeevan, operating out of Apex Mall in Ashok Nagar police station area, lodged a complaint saying some unknown persons hacked into its system.
"The hackers' purchased the shares of a company named Clarus at high prices using Navjeevan's software. The sellers of the shares had hiked the price of them and kept purchasing them until it reached the firm's limit of purchase with the BSE," said Hitesh Choudhary, a cyber crime expert helping the police.
He added that on the basis of the computer's IP address used in the purchase and the study of a similar case, one man has been identified.
The complainant Rajesh Kumar told TOI the fraud took place on September 19 and since then he had been constantly trying to get information regarding the share sellers from the BSE, but he did not get any co-operation.
"Instead, they suspended my firm's BSE membership for not depositing the money used in purchase of the shares. I feel completely helpless as the owner of four accounts which were used to purchase shares will obviously not pay the money," Rajesh claimed.
A senior police officer said the money transaction to the sellers' account has been halted after police wrote to the BSE. "An investigation in on," the officer added.