Chinese hackers group manage to swindle INR 130 Crore from an Italian firm’s Indian unit
As per the police on January 14, 2019, an Italian firm's Indian unit based out in Mumbai has reportedly lost INR 130 Crore to the hackers. In one of the biggest online heist of such kind, the hackers succeeded to steal the money by convincing the local managers (i.e. of Indian unit) of the Italian firm that the money is required for doing acquisition, said the police.
As per the Economics Times, the hackers group, who are Chinese by origin, stole a huge sum of INR 130 Crore (i.e. $18.45 million) from the Indian arm of Tecnimont SpA with the help of an elaborated cyber fraud which also included impersonating the chief executive of the Italian engineering company.
A police official said that the hackers have sent emails to the Indian Head of Tecnimont (a part of publicly traded Maire Tecnimont). The emails were sent from the account that seemed similar to the one used by CEO of the Italian group, added the police official. Moreover, many conference calls were also arranged by the hackers in order to discuss about the "confidential" acquisition in China, as per the report of Economics Times, citing a complaint that was made to the police.
The Economics Times said that during those conference calls, numerous people of the hacking group pretend as Tecnimont's CEO, Tecnimont's senior executives, as well as a Switzerland-based top lawyer. The report further said that the Indian unit's Chief was then convinced by the hackers to transfer money for acquisition from India in three tranches to banks in the Hong Kong. The hackers explained that due to some regulatory issues the money cannot be transferred from Italy.
As per the Economics Times newspaper, Tecnimont has hired security and legal firms, and also launched forensic investigation to probe into the fraud and the theft. The Economics Times report said that Tecnimont has fired their Indian unit's Chief as well as the Accounts and Finance head after the attack.
On the basis of a complaint made by company officials, a case has been registered by the police on January 12, 2019, against the unidentified hackers at cyber police station and they are further investigating the matter.
» SPAMfighter News - 1/30/2019 |
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