Beware of hackers, four emails from fraudster cost Mumbai company ₹6.89 lakh

Mumbai firm did not suspect anything as cybercriminal emailed it from the ID of a German firm it had been doing business with for three years

Four emails were all it took for a fraudster to swindle a Mumbai-based firm of Rs6.89 lakh. Here’s how — the cybercriminal hacked into the official email account of a German firm and used it to message the Mumbai company, asking it to deposit the sum into his account.

After the Mumbai firm placed an order, the cybercriminal sent it four emails from the German firm’s official email ID between February 24 and March 20, asking it to deposit the money into a new bank account. (HT File Photo)

As the two companies have been doing business together for the past three years, the Mumbai firm did not suspect anything amiss. The Mumbai firm imports glass from the German one and the two usually discuss financial transactions over email, said police.

When the firm did not receive the glass on time, it contacted the German company which denied having been part of such a transaction.

On April 24, the Mumbai company asked the Pydhonie police to register a case under sections 419 (impersonation), 420 (cheating) of the Indian Penal Code and 66C (identity theft) and 66D (impersonation by using computer resource) of the Information Technology Act.