Nearly 30 Indian Investors Allege ₹100 Crore Stockal…
By Karthik Subramanian
AI summary of the source article
Indian investors reported suspected unauthorised trading exceeding ₹100 crore via cross-border platform Stockal Securities, with US equities liquidated into microcap stocks. Parent company Borderless Investing confirmed unauthorised activity in 26 accounts using valid credentials but denied an infrastructure breach.
Why it matters
The incident "highlights the challenges associated with international investment platforms involving multiple intermediaries responsible for customer access, trade execution and custody."
Key facts
- Nearly 30 investors reported unauthorised trading involving over ₹100 crore on Bengaluru-based platform Stockal Securities.
- Stockal's parent, Borderless Investing, acknowledged that an unauthorised third party accessed 26 accounts using valid credentials.
- A police complaint was filed in Bengaluru naming Stockal, Borderless entities, US brokerage partner DriveWealth, and HDFC Securities.
Source excerpt · FinanceFeeds
Nearly 30 Indian investors have reported suspected unauthorised trading involving more than ₹100 crore through Bengaluru-based investment platform Stockal Securities, raising concerns about account security and investor protection in cross-border stock trading. According to a November 3 Moneycontrol investigation, customers alleged that their portfolios containing Apple, Nvidia, Amazon, Tesla and…