Chennai cybercrime officers successfully retrieved Rs 2 crore from US bank accounts after a businessman was scammed via spoofed emails. The email, imitating legitimate business communication, led the company general manager to make an unauthorized NEFT payment. The case underscores the importance of verifying email authenticity. Bengaluru techie couple loses Rs 1.53 crore in trading scam
TNN | Oct 5, 2024, 02.24 PM IST CHENNAI: Cybercrime cops have launched a hunt for the fraudsters who cheated a businessman of Rs 2 crore by sending a spoofing mail to their company’s bank account to make their payment for their trading.
Cybercriminals intercept or imitate legitimate business communications to deceive victims into making unauthorised payments.
Due to the timely intervention by the cybercrime officials, the state cybercrime wing team retrieved the whole money back to the complainant’s bank account.
What exactly happened
Police said the private firm Agrigo Trading Private Limited, Chennai, received a spoofed email from kunal1113@gmail.com. The company general manager responded to the mail, as it was part of an email chain.
The mail included the proforma invoice along with the banking details for the payment of US Dollars 238,500 (Rs 2,00,10,150) to be deposited at the Regions Bank, USA.
Believing it to be legitimate, as it was related to a prior email conversation with the original supplier requesting a proforma invoice for payment of the amount for a business deal, the manager proceeded with the NEFT payment via State Bank of India, Leather International Branch, Chennai, on 26 September.
When the complainant followed up with the supplier on 27 September, it was discovered that the email was fraudulent, and they had been scammed.
The victim filed a complaint in the National Cyber Crime Reporting Portal, and a case was registered at the State Cyber Crime Investigation Centre under Cr.No. 57/2024, u/s 318(4) of BNS 2023 & 66, 66C, 66D of IT Act 2000.
Requests were sent to State Bank of India, Leather International Branch, Chennai, for tracing the lost amount. The State Bank of India confirmed that the funds had been credited to the account of Regions Bank in the USA.
Based on the team’s earnest efforts, by coordinating with the I4C, ministry of home affairs, and the Regions Bank, USA, it was confirmed that the entire amount was returned and credited to the complainant’s account.
This case highlights the importance of verifying email authenticity, especially when large financial transactions are involved. This type of scam exploits trust and can result in significant financial losses for businesses. If you suspect that you have been a victim of similar fraudulent activity or have come across any suspicious activity, it is crucial to take immediate action. Report the incident by dialing Cyber Crime Toll-free Helpline No ‘1930’ or register a complaint at ‘www.cybercrime.gov.in’.
Advisory to citizens for cyber safety:
- Check the sender’s address carefully: Scammers often create fake email addresses that look almost identical to legitimate ones but may have small differences.
- Look for unusual language: If the email contains poor grammar, spelling mistakes, or odd phrasing, it may be a spoofed message.
- Watch for urgent or suspicious requests: Be cautious if the email asks you to take immediate action, such as verifying your account, resetting a password, or transferring money.
- Inspect links before clicking: Hover your mouse over any links in the email (without clicking) to see the actual URL. If it looks suspicious, do not click.
- Notify the impersonated organisation: If the spoofed email claims to be from a legitimate company or entity, report the scam to their security team.
- Delete the email: After reporting the suspicious message, delete it from your inbox and trash folder.
- Enable Two-Factor Authentication (2FA) to your email accounts in addition to your password.
Source: TOI, Chennai
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