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SEBI Announces the List of Empanelled agencies for providing Digital Forensic Services to SEBI

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India’s Capital Market Regulator, SEBI, recently released a list of agencies it has empaneled for providing digital forensic services and to assist SEBI in executing its mandate of protecting and regulating the securities markets.

SEBI has enlisted the services of 12 such entities including EY, KPMG Assurance and Consulting Services LLP, Baker Tilly Business Advisory Services, Cybermate Forensics & Data Security Solutions, Cyint Technologies, ECS Info Tech, Innefu Labs Pvt. Ltd., Mahen Technologies, Nangia & Co. LLP, Netrika Consulting India Pvt. Ltd., Pelorus Technologies, and SysTools Software Pvt. Ltd. This empanelment is for a period of two years.

SEBI in August 2023 had called for applications from experienced service providers in the field of digital forensics. These service providers are required to be proficient in the acquisition, extraction, and analysis of digital evidence from various devices, including mobile phones, computers, and tablets.

Further, the scope of work of these empaneled entities will include forensic acquisitions or imaging of various digital devices, including laptops, mobile phones, servers, etc. They will also be responsible for onsite data acquisition from cloud-based applications such as Google Mail, Meta (Facebook), YouTube, Instagram, Telegram Messenger, Whatsapp, and any other application or database specified by the search team. These entities will also be required to undertake indexing of complete data, time-line analysis, meta data analysis, Decryption and password cracking, keyword searching, data retrieval etc.

In the recent past, SEBI has ramped up such empanelment. In September 2023 SEBI empaneled 34 entities for conducting Forensic Investigation of Mutual Funds, its AMCs, its Trustee Companies or Board of Trustees. Further, in October 2023 SEBI released an advertisement seeking proposals for undertaking Special Purpose Cyber Audit, Vulnerability Assessment and Penetration Testing and Surprise Audit of SEBI Regulated Entities (REs).

A copy of the list of agencies empaneled for providing Digital Forensic Services, as available on the SEBI website, is enclosed herewith.

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