The 420 reported:
Basu had initiated contact with Dubai-based True Sea Services FZC through its official website and legitimate corporate email address to purchase doors and windows. After negotiating the terms, he executed a genuine advance payment of US $11,216.21 to the supplier via SWIFT on March 10. While the consignment was in production, an unidentified actor established a lookalike email domain that subtly mimicked the supplier’s authentic address.
The genuine address, inquiry@trusea.ae, was replaced with inquiry@trusea-ae.com, introducing a minor variation that went unnoticed during active correspondence. Using the spoofed address, the perpetrator continued the conversation with Basu under the guise of regular trade communication.
The fraudulent communication presented revised banking details registered under the corporate name True Sea Services F.Z.C. at First Abu Dhabi Bank PJSC, including an international bank account number and branch particulars in the United Arab Emirates. Believing the notification originated from the authentic vendor, Basu processed an online wire transfer of US $20,830 on June 9, amounting to roughly ₹19.75 lakh.
The genuine address, inquiry@trusea.ae, was replaced with inquiry@trusea-ae.com, introducing a minor variation that went unnoticed during active correspondence. Using the spoofed address, the perpetrator continued the conversation with Basu under the guise of regular trade communication.
The fraudulent communication presented revised banking details registered under the corporate name True Sea Services F.Z.C. at First Abu Dhabi Bank PJSC, including an international bank account number and branch particulars in the United Arab Emirates. Believing the notification originated from the authentic vendor, Basu processed an online wire transfer of US $20,830 on June 9, amounting to roughly ₹19.75 lakh.
Find the original article here.
Takeaway: Have a separate process for remittance changes that includes controls, validations, authentication and best practices. Review the email to see if there are any red flags. Use an AI Tool to help. Check out the training session to see how to use Microsoft Copilot to spot red flags in an email or your inbox.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Takeaway: Have a separate process for remittance changes that includes controls, validations, authentication and best practices. Review the email to see if there are any red flags. Use an AI Tool to help. Check out the training session to see how to use Microsoft Copilot to spot red flags in an email or your inbox.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat