Email From 'Chairman' Costs Pharma Company Rs 1.9 Crore in Cyber Fraud
Bengaluru: A meticulously executed email spoofing attack has led to a massive financial loss for a pharmaceutical company. The North Division Cyber Crime Police in Bengaluru are investigating a high-profile case of cyber fraud in which a man, posing as the chairman of a pharma firm, allegedly tricked the firm's accountant into transferring Rs 1.9 crore to a fraudulent bank account.
According to the police complaint filed by Saravanan V., the accused impersonated the company chairman by using his name and photo, and contacted the company’s Chief Operating Officer (COO) through a messaging platform about a week ago. Posing as the chairman, the conman claimed he was using a new phone number and requested sensitive bank account details.
Believing the message to be authentic, the COO forwarded the request to the company’s accountant, instructing him to share the required financial information. Continuing the impersonation, the fraudster told the accountant that he was in the middle of a business meeting with a government representative regarding a new project and would not be able to talk directly.
The imposter then requested the current balance of the company’s bank account. Trusting the request to be genuine, the accountant sent a screenshot of the account balance via WhatsApp. Soon after, the accused asked for Rs 1.92 crore to be transferred for the so-called project. When asked where to transfer the money, he provided bank details of a cargo and courier company located in Virar (East), Mumbai.
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