The 420 reported:
A leading Pune-based auto components manufacturer has fallen victim to a business email compromise (BEC) attack, losing ₹2.35 crore after fraudsters manipulated the firm’s communication channels to reroute vendor payments.
The attackers sent professionally crafted emails from the compromised account, instructing the firm’s accounts department to update banking details “for operational reasons.” Unaware of the deception, the finance team processed multiple transfers totaling ₹2.35 crore into accounts controlled by the fraudsters.
It was only when the actual vendor reached out about pending dues that the scam came to light. The attackers had also set up email forwarding rules, ensuring genuine correspondence was hidden while their instructions were fast-tracked.
Find the original article here.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
A leading Pune-based auto components manufacturer has fallen victim to a business email compromise (BEC) attack, losing ₹2.35 crore after fraudsters manipulated the firm’s communication channels to reroute vendor payments.
The attackers sent professionally crafted emails from the compromised account, instructing the firm’s accounts department to update banking details “for operational reasons.” Unaware of the deception, the finance team processed multiple transfers totaling ₹2.35 crore into accounts controlled by the fraudsters.
It was only when the actual vendor reached out about pending dues that the scam came to light. The attackers had also set up email forwarding rules, ensuring genuine correspondence was hidden while their instructions were fast-tracked.
Find the original article here.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat