A 4.51 carat round diamond was sold on February 6th at 4:27 in Mumbai for Rs 8 lakhs on 40% discount. How does these minute details of a diamond sale broke out? It’s nothing but data breach. Diamond who merchants who deal with crores of money are however failing to protect the data.
It’s a known fact that the diamond merchants are not giving enough interest cyber security like in the physical security. The details of the purchase are getting stored in ERP as soon as the bill got generated and here comes the major threat.
As it’s a non encrypted data from both the sides, it’s easy to access the data from Internet. This is due to the cyber software by Fauna Technologie’s ERP programme which is widely used by several diamond merchants across India. With a lack of security measures in the software, details of diamond business remain no secret.
Despite so many security failures, the Fauna technologies CEO Purav R Choksi says that these merchants has no other option other than to trust him. He has openly admitted that though he’s trying to provide them a fool-proof security, he couldn’t. A hardcore fan of BJP, and Modi, Choksi who is also a net savvy spends most of time singing praises on Modi.
Now the biggest question is how can crores of business details are captured in the hands of hardcore BJP fan. It remains to be seen if his story would be like another Nirav Modi and Mehul Choksi.