Cyber Crime Wing of T.N. Police retrieves ₹2 crore stolen by fraudsters

The victim, a general manager of a private firm, was deceived into making the payment after the scammers imitated a legitimate business communication from a supplier

The Cyber Crime Wing of the Tamil Nadu Police has retrieved ₹2 crore that fraudsters stole from a general manager of a private firm.

The scam involves cybercriminals intercepting and imitating legitimate business communications to deceive victims into making unauthorised payments. Email spoofing is a technique used in spam and phishing attacks to trick users into thinking a message came from a legitimate person or entity.

The police said the victim received a spoofed e-mail containing a proforma invoice with bank details for a payment of $238,500 (equivalent to ₹2 crore) to be deposited at the Regions Bank, United States (U.S.). Believing it to be legitimate as it was related to a prior e-mail conversation with the original supplier requesting a proforma invoice for a payment in a business deal, the manager proceeded with the SWIFT payment via the State Bank of India, Leather International Branch, Chennai, on September 26.

When the complainant followed up with the supplier the next day, it was discovered that the e-mail had been fake, and they had been scammed. The victim filed a complaint with the National Cyber Crime Reporting Portal, and a case was registered at the State Cyber Crime Investigation Centre.

Requests were sent to the bank to trace the stolen amount. The bank confirmed that the money had been credited to an account of the Regions Bank in the U.S. By coordinating with the Indian Cyber Crime Coordination Centre, Ministry of Home Affairs, and the Regions Bank, the entire amount was returned and credited to the complainant’s account.

‘Double-check e-mails’

Sandeep Mittal, Additional Director General of Police, Cyber Crime Wing, said: “This case highlights the importance of verifying e-mail authenticity, especially when large financial transactions are involved. This type of scam exploits trust and results in significant financial losses for businesses. Check the sender’s address carefully: scammers often create fake e-mail addresses that look almost identical to legitimate ones but with minor differences. Look for unusual language: if the text contains poor grammar, spelling errors, or odd phrasing, it may be a spoofed message.”

Published - October 06, 2024 06:20 pm IST