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Fraud

Swift Action by Pimpri Chinchwad Cyber Police Saves Rs31 Crore in Email Spoofing Fraud

Strategic Insights

— 2 min read

The Pimpri Chinchwad cyber police in Pune took swift action to recover Rs31 crore that a Chakan-based bioscience company lost in an email spoofing fraud between April and May. The company's US-based officer's email was hacked, and details of the firm's vendors were obtained, leading to a payment of Rs33.5 crore. The company approached the cyber police after realizing they had been duped, and with the help of the bank, they managed to recover the majority of the lost funds.

Key Takeaways:

  • The bioscience company lost Rs31 crore in an email spoofing fraud between April and May, with the assistance of cybercrooks who hacked the email of the company's US-based officer.
  • The company's vendors' email was also hacked, and the cybercrooks created a fake domain in the vendor's name, changing the vendor's bank account number.
  • The officer in the US shared the compromised bank details with officials in Chakan, leading to a payment of Rs33.5 crore being made to the suspects' account.
  • The company approached the Pimpri Chinchwad cyber police after realizing the payment was a fraud, and with their assistance, Rs31 crore was recovered from the suspects' account.
  • The cyber police also helped the company file a complaint in the US about the fraud, which aided in the recovery of the funds.
  • The company's official from Chakan lodged a complaint with the police on Wednesday, revealing the extent of the fraud.
  • Assistant Inspector Pravin Swami, Pimpri Chinchwad cyber police, stated that the company's plant is located in New Jersey, US, and that the cybercrooks obtained vendor details in April.
  • The company's official said that the cybercrooks compiled a list of vendor accounts and added new bank accounts, attempting to accomplish a large-scale fraud.

Statistics:

  • Rs31 crore: the amount recovered by the Pimpri Chinchwad cyber police in the email spoofing fraud case.
  • Rs1.4 crore: the amount the company lost in the fraud.
  • Rs33.5 crore: the payment made to the suspects' account following the compromise of the vendor's email.
  • April and May: the period during which the email spoofing fraud occurred.
  • Rs31 crore and 99% of the total amount (representing Rs31.5 crore before considering the partially recovered Rs0.5 million) saved due to swift police action and assistance of bank staff not mentioned in the media.

Sources:

  • Pune Mirror
  • "Pimpri Chinchwad cyber police saves Rs31 crore in email spoofing fraud"
  • "Swift action by Pimpri Chinchwad cyber police saves Rs31 crore in email spoofing fraud"

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