A Mumbai firm has been targeted by a cybercriminal who hacked into a German supplier’s email account to send it a message asking it to deposit Rs6.89 lakh (US$11,000) into a new account.
The Mumbai firm regularly imported glass from the German company, and their financial transactions were discussed via email.
After the Mumbai firm placed an order, the cybercriminal sent four emails from the German firm’s email account between February 24 and March 20 asking them to deposit the payment for it into the new bank account, the police told the media.
When the firm did not receive the glass on time, it contacted the German company, which said the transaction never took place.
The investigation continues.