Indore: The cyber cell has recovered ₹3.72 crore lost by a city-based company in an international cyber fraud.
Madhya Pradesh: An official said on Wednesday that the state cyber cell has recovered Rs 3.72 crore lost by a private company in the city to an international cyber fraud. The action was taken with the help of India’s National Cybercrime Portal (I4C) and the United States’ Cybercrime Portal IC3.
SP (Cyber Cell) Sabyasachi Sarraf said that Shivganga Drillers Private Limited, a company based in Indore, was supposed to make a business payment of US$415,017.58 (approximately Rs 3.72 crore) to its vendor, Innovax International Inc., located in Houston, USA.
Cybercriminals targeted this transaction using Business Email Compromise (BEC) and spoofed emails. Through this method, the fraudsters managed to divert the international payment to a suspicious account at JP Morgan Bank in the United States.
