Hyderabad: MNC loses Rs 8 crore to cyber crooks -- lol

[Spartan]

A multi-national company located in Hyderabad has fallen prey to cyber crooks who, by sharing details of their “new” bank account via a spoof email id of the company’s client from West Africa, siphoned off `8 crore from the company. According to sources, the company, which has multiple branches across the globe, also has a branch in Madhapur. They are into the import and export of tools and do business with an Africa-based client. Recently, the city-based company was about to finalise a deal worth `8 crore to purchase the material.

The source explained, “The cyber crooks, who had hacked the e-mail of the company’s client in Africa, accessed the e-mail conversations and learned about the deal that was supposed to be closed soon. The fraudsters created a spoof e-mail id, similar to that of the African company, and sent an e-mail to the Madhapur company asking them to transfer the money into their new bank account.”

“When the company checked with their client regarding the material, they learned that they had been deceived,” said the source. Cyberabad police registered a case for further investigation.

A senior police official from the Cyberabad commissionerate confirmed the incident and said, “The fraud has taken place at Mali, a West African country. The fraudsters changed only one letter in the original e-mail id and convinced the Madhapur company to transfer money into their bank account. The amount, which was transferred to one bank account, was later distributed to multiple accounts. A case has been registered. Based on the outcome of the investigation, further action will be initiated.”

[Spartan]

The Cyberabad police received a complaint about corporate email hacking in which the hacker collected the database of company, hacked email IDs and intercepted them and transferted funds.

The complaint was filed by M.A. Padmanabha Rao, financial controller, Volta-Impex Pvt. Ltd, Kondapur, which exports engineering goods to the west African region.

 

Mr Rao told the police that one Tamil Vannan, financial controller of Diamond Cement in the west African country of  Mali used to communicate with VoltaImpex  with regard to export of goods.

Mr Rao said Mr Vannan received an email from VoltaImpex employee Murali Krishna, whose email id is [email protected] in December last year to deposit pending payments into their company bank account, at Andhra Bank, SR Nagar, Hyderabad.

Mr Rao said that in mid-January 2019, Mr Vannan received a mail from a fake email id,  [email protected], with new bank det-ails for payment.

“On February 20, Diamond Cement remitted $1,259,500.50. The VoltaImpex official email ID received a fake SWIFT copy from a fake email id: [email protected], showing the Andhra Bank account details of VoltaImpex as the beneficiary. Since the remittance was not credited into their account, they contacted Diamond Cements and were told that they have transferred the funds to the Bank of America. Later VoltaIm-pex came to know that they were cheated and we filed a complaint. The case is under investigation,” said the complainant.

[tacobell fan]

intha MVP gallu unnara MNC lo. Insurance claim chesi 20 crs return tisukuntaru vallu antha easy ga loss aithe inkemundi.

[MobileMusic]

For all the cyber crimes that happen in America - dikku mokku ledu 

Law is harsh for stealing but not on cyber stealing. Laws should be amended to sue these low-life lazy scum until they go bankrupt and punish with prison for life and send out a message to others. It shouldn’t matter where the culprit is living in which country. Same goes for spammers, crooks calling like IRS and telemarketers who do not respect Do Not Call registry data.