Rs 22 Crore Gone in a Click: Pharma Giant Alkem Labs Falls Victim to Cyber Fraud

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The fraud was uncovered on November 15, 202d, when Alkem received another email, purportedly from Ghare, requesting a refund of Rs 90 crore. Suspicious of the request, Alkem officials contacted Ghare, who confirmed he had not sent such an email. Further investigation revealed that the earlier emails were sent from compromised accounts, with slight alterations in the email addresses. HT reports that the U.S. police managed to seize approximately Rs 28.98 crore from the defrauded amount, which was refunded to Alkem Laboratories. Effectively, Alkem Laboratories was cheated of Rs 22.31 crore.

Alkem Laboratories has reported the matter to the authorities, and investigations are ongoing to apprehend the culprits and recover the remaining funds. The company has also initiated internal measures to enhance cybersecurity protocols to prevent future incidents, reports The Free Press Journal.