Ahmedabad-Based Troikaa Pharma Falls Victim To Rs 50 Lakh Cyber Fraud
Cybercrime
Ahmedabad: An Ahmedabad-based pharmaceutical company has become the latest victim of a sophisticated cyber fraud involving email spoofing and forged documents, through which it was defrauded of nearly Rs 50 lakh via deceptive email communications and fake bank credentials.
According to a recent media report in Times of India, the cybercrime police on Monday registered a complaint of cheating and forgery against an unidentified individual after the pharmaceutical firm, Troikaa Pharmaceuticals was duped of nearly Rs 50 lakh.
The complaint was lodged by Utpal Dixit, 55, General Manager at Troikaa Pharmaceuticals and a long-time employee of the company. As per the FIR, the fraud occurred over a period of several weeks, beginning February 10 and continuing until March 17, during which a series of email exchanges convinced the company to transfer large sums to a fraudulent bank account.
Troikaa has maintained a business relationship for over a decade with BRD Medilabs Unit II, a pharmaceutical company based in Himachal Pradesh and owned by Rajesh Bansal. According to the complaint, communication with BRD was typically conducted through their official email address.
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On February 10, Troikaa received an email from what appeared to be BRD’s official email ID, requesting payment of Rs 50.56 lakh. A follow-up email soon directed the company to transfer the funds to a new bank account. Believing the instructions to be genuine, Troikaa transferred Rs 33 lakh on February 17, followed by another payment of Rs 16.7 lakh on March 12. Confirmation emails acknowledging the receipt were also sent, adding to the illusion of authenticity.
However, the fraud came to light on March 15 when BRD Medilabs informed Troikaa that they had not received any payments and had not issued any request to change the bank account. An internal investigation by Troikaa revealed that cybercriminals had infiltrated the email thread and inserted a spoofed email ID that closely resembled BRD’s official address. Fraudsters also sent forged documents, including a fake cancelled cheque and a falsified letter detailing the new supplier terms and bank details.
The Ahmedabad cybercrime cell has registered a case of cheating and forgery under the Bharatiya Nyaya Sanhita (BNS), along with charges under the Information Technology Act. The complaint names an "unknown person" as the accused.
Investigations are currently underway to identify the perpetrators behind the scam, reports TOI.
