A probe has been launched into a cyber fraud case in Bengaluru where hackers allegedly infiltrated the official email communication between city-based Group Pharmaceuticals and Dr Reddy’s Laboratories in Hyderabad, diverting a payment of ₹2.16 crore to a fraudulent account.
Mahesh Babu K, a senior executive at Group Pharmaceuticals, requested the police to freeze the fraudulent bank account and help recover the misappropriated amount.
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How did hackers divert funds to fake account?
According to the FIR filed on November 5 at Bengaluru’s Cyber Crime Police Station, Mahesh said that his company was expecting a payment of ₹2.16 crore from Dr Reddy’s Laboratories for goods supplied.
However, on November 3, hackers allegedly gained unauthorised access to the email exchange between the two firms and sent fake emails to Dr Reddy’s finance and accounts department.
Posing as officials from Group Pharmaceuticals, they provided false bank account details, leading to the transfer of funds, the FIR said, according to PTI. Dr Reddy’s Laboratories then transferred ₹2.16 crore on November 4 to the fake account.
Police file FIR, probe on
{{/usCountry}}Posing as officials from Group Pharmaceuticals, they provided false bank account details, leading to the transfer of funds, the FIR said, according to PTI. Dr Reddy’s Laboratories then transferred ₹2.16 crore on November 4 to the fake account.
Police file FIR, probe on
{{/usCountry}}Based on the complaint, police registered a case on November 5 against unidentified cyber fraudsters under relevant sections of the Information Technology Act and Sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita, a senior police officer told PTI.
Preliminary findings suggest that the fraudulent account was located in Vadodara, Gujarat, from where the stolen money was quickly moved into several sub-accounts, the officer said.
Police also said that the main account used to divert the funds has been frozen, and efforts are underway with banks to recover the total amount.