In a major case of cyber fraud, a sum of Rs 2.16 crore has been siphoned off after fraudsters hacked email communications between Bengaluru-based Group Pharmaceuticals Ltd and Dr. Reddy's Laboratories in Hyderabad, diverting a payment to a fraudulent bank account.
According to the FIR filed on November 5, the Bengaluru-based pharmaceutical company was due to receive a payment of Rs 2.16 crore from Dr. Reddy's Laboratories for goods supplied. However, on November 3, unknown hackers allegedly gained unauthorised access to the email correspondence between the two companies and sent fraudulent emails to Dr. Reddy's finance team from a fake email ID closely resembling the genuine company address.
The imposters reportedly provided false bank details and instructed Dr. Reddy's to transfer the payment to a Bank of Baroda account. Believing the communication to be genuine, Dr. Reddy's Laboratories transferred Rs 2.16 crore to the fraudulent account on November 4.
It was later discovered that the email had been sent by cybercriminals impersonating officials of Group Pharmaceuticals. The company has since lodged a complaint, requesting police to freeze the fraudulent account and recover the misappropriated funds.
Police said an investigation is underway to trace the culprits and recover the defrauded amount.
