India's Max Financial reports cyber threat at unit
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 02 2025
0mins
Source: Reuters
Unauthorized Data Access Incident: Max Financial Services reported that its unit, Axis Max Life Insurance, experienced unauthorized access to customer data and has initiated a security assessment and investigation with information security experts.
Rising Cyber Fraud in India: Cyber fraud cases in India have surged significantly, leading to losses of $20 million in fiscal 2024, prompting the insurance regulator to mandate industry-wide IT system audits following several high-profile breaches.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
