Illegal phone-tapping case: ED seeks info from NSE on iSec Services

ED may register fresh money laundering case in the illegal phone tapping matter

The Enforcement Directorate (ED) has sought an explanation from the National Stock Exchange (NSE) as to why it gave the contract for its systems auditing to little-known iSec Services, which has “limited expertise”.

It also wants to know the terms of the contract and whether the NSE knew the firm had also audited the servers of some brokerages that allegedly gained from the co-location facility, which gave them preferential access to the exchange trading platform.

The move comes after the federal agency stumbled upon transcripts of phone calls during its ongoing money-laundering probe stemming from the co-location case.

“We have sought information from