Steel supplier loses ₹32.7 lakh to cyber fraud

It was revealed that the unidentified cyber fraud had created a bogus letterhead of the company and emailed it to a bank and requested to make some RTGS transactions.

Mumbai: A steel supplier from Andheri has recently filed a complaint with the west region cyber police station after a cyber fraud group defrauded the company of ₹32.7 lakh.

Steel supplier loses ₹32.7 lakh to cyber fraud

The complainant, Kailash Agarwal, is one of the four directors of Darukhana Steel Pvt Ltd.

As per the FIR, on November 8, when Agarwal was in Pune, he received a call from another director asking him if he had transferred ₹32.7 lakh from the company’s bank account.

Surprised, Agarwal denied any such money transfer. The caller inquired and came to know that their bank had received an email from the company in which Agarwal on the company’s letterhead requested the bank to make some RTGS transactions.

“It was then revealed that the unidentified cyber fraud had created a bogus letterhead of the company and emailed it to the bank,” said a police officer.

He added that as the email was sent by a fraud from an email ID in the name of one of the directors, the bank executive did not suspect any foul play and transferred the amount to various bank accounts.

The company also filed a case against the unknown concerned bank executives. Agarwal said that their role must also be investigated, as they processed the transactions without confirming it from the company or without verifying the company’s email ID, which is different from the one that is registered with the bank.

A case has been registered under sections 419 (cheating by impersonation) and 420 (cheating) of the Indian Penal Code and 66C (identity theft) and 66D (personation by using computer resources) of the Information Technology Act, 2000.