A Chennai businessman fell victim to an email spoofing scam, losing Rs 2 crore.
The scam unfolded when private firm Agrigo Trading Private Limited received a deceptive email from kunal1113@gmail.com.
The email was designed to look legitimate, as it was part of an ongoing conversation with a trusted supplier regarding a payment.
In today’s digital world, where emails dominate our communication, cyber threats like email scams are on the rise. A recent case in Chennai serves as a stark reminder of this growing danger. A businessman fell victim to an email spoofing scam, losing a staggering Rs 2 crore.
The scam unfolded when private firm Agrigo Trading Private Limited received a deceptive email from kunal1113@gmail.com, reports TOI. The email was designed to look legitimate, as it was part of an ongoing conversation with a trusted supplier regarding a payment. Believing it to be genuine, the company’s general manager responded to the email and made an NEFT payment of $238,500 (approximately Rs 2,00,10,150) to Regions Bank in the USA.
However, the next day, when the manager followed up with the supplier, it was discovered that the email was a scam. The company promptly reported the incident to the National Cyber Crime Reporting Portal, leading to a case being registered at the State Cyber Crime Investigation Centre.
Thanks to the swift action of cybercrime officials, the entire amount was successfully retrieved and credited back to the complainant’s account. This incident underscores the importance of verifying email authenticity, especially for significant financial transactions.
Also read: Delhi man loses Rs 1.26 lakh in online job scam: How to protect yourself from such frauds
To protect yourself from similar scams, here are some essential tips:
- Check the sender’s email address: Scammers often create email addresses that closely resemble legitimate ones. Look for subtle differences.
- Watch for poor language: Spoofed emails may contain grammatical errors, spelling mistakes, or odd wording. If it seems off, double-check.
- Be cautious with urgent requests: Emails demanding immediate action, such as money transfers or account verifications, should raise red flags.
- Inspect links carefully: Hover over links to see the actual URL before clicking. If it looks suspicious, avoid it.
- Report and delete: If you receive a spoofed email, report it to the legitimate organization and then delete the email.
- Enable two-factor authentication (2FA): Adding an extra layer of security to your email accounts can help protect your sensitive information.
What exactly happened
Police said the private firm Agrigo Trading Private Limited, Chennai, received a spoofed email from kunal1113@gmail.com. The company general manager responded to the mail, as it was part of an email chain.
The mail included the proforma invoice along with the banking details for the payment of US Dollars 238,500 (Rs 2,00,10,150) to be deposited at the Regions Bank, USA.
Believing it to be legitimate, as it was related to a prior email conversation with the original supplier requesting a proforma invoice for payment of the amount for a business deal, the manager proceeded with the NEFT payment via State Bank of India, Leather International Branch, Chennai, on 26 September.
When the complainant followed up with the supplier on 27 September, it was discovered that the email was fraudulent, and they had been scammed.
The victim filed a complaint in the National Cyber Crime Reporting Portal, and a case was registered at the State Cyber Crime Investigation Centre under Cr.No. 57/2024, u/s 318(4) of BNS 2023 & 66, 66C, 66D of IT Act 2000.
Requests were sent to State Bank of India, Leather International Branch, Chennai, for tracing the lost amount. The State Bank of India confirmed that the funds had been credited to the account of Regions Bank in the USA.
Based on the team’s earnest efforts, by coordinating with the I4C, ministry of home affairs, and the Regions Bank, USA, it was confirmed that the entire amount was returned and credited to the complainant’s account.
This case highlights the importance of verifying email authenticity, especially when large financial transactions are involved. This type of scam exploits trust and can result in significant financial losses for businesses. If you suspect that you have been a victim of similar fraudulent activity or have come across any suspicious activity, it is crucial to take immediate action. Report the incident by dialing Cyber Crime Toll-free Helpline No ‘1930’ or register a complaint at ‘www.cybercrime.gov.in’.
Advisory to citizens for cyber safety:
- Check the sender’s address carefully: Scammers often create fake email addresses that look almost identical to legitimate ones but may have small differences.
- Look for unusual language: If the email contains poor grammar, spelling mistakes, or odd phrasing, it may be a spoofed message.
- Watch for urgent or suspicious requests: Be cautious if the email asks you to take immediate action, such as verifying your account, resetting a password, or transferring money.
- Inspect links before clicking: Hover your mouse over any links in the email (without clicking) to see the actual URL. If it looks suspicious, do not click.
- Notify the impersonated organisation: If the spoofed email claims to be from a legitimate company or entity, report the scam to their security team.
- Delete the email: After reporting the suspicious message, delete it from your inbox and trash folder.
- Enable Two-Factor Authentication (2FA) to your email accounts in addition to your password.
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India is facing a growing threat of online scams, with cybercriminals devising new tactics to deceive individuals and businesses. One such case involves a Chennai-based company, Agrigo Trading Private Limited, which lost Rs 2 crore in an email spoofing scam. The general manager of the company received a fraudulent email on September 26 that appeared to be from a legitimate supplier, continuing a prior business conversation. The email contained a proforma invoice and payment instructions to transfer USD 238,500 (around Rs 2 crore) to a US-based Regions Bank account. Believing the email was genuine, the manager processed the payment through NEFT using the State Bank of India.
The fraud was discovered when the company contacted the real supplier the next day and realized the email had been spoofed. Agrigo Trading immediately reported the incident via the National Cyber Crime Reporting Portal. Authorities, in coordination with the Ministry of Home Affairs and Regions Bank, acted swiftly, and the full amount was recovered. This case highlights the sophisticated methods cybercriminals use to trick businesses, emphasizing the importance of vigilance during financial transactions.
A spoofed email is a type of phishing email in which the sender’s address is manipulated to appear as if it comes from a trusted source. These emails are often used to deceive recipients into transferring money, sharing sensitive information, or clicking malicious links. In business transactions, scammers often target ongoing deals, making the fraudulent emails appear legitimate.
To avoid falling victim to email spoofing scams, it’s essential to double-check the sender’s email address and review the content carefully, looking for unusual language, grammatical errors, or urgent payment requests. For monetary transactions, it’s advised to verify payment details directly with the supplier. If you encounter a suspicious email, report it to the Cyber Crime Toll-Free Helpline (1930) or through the National Cyber Crime Reporting Portal (cybercrime.gov.in). Being cautious can help prevent significant financial losses in such scams.
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A Chennai businessman became the victim of a sophisticated email spoofing scam, losing Rs 2 crore. Fortunately, due to quick action by authorities, the entire amount was successfully recovered.
In short:
The Scam: The victim received a fake email that included ongoing business details and requested a payment.
The Deception: Believing the email to be legitimate, the manager of Agrigo Trading Private Limited processed a payment of USD 238,500 (approximately Rs 2 crore) to a bank account in the USA.
Detection: The fraud was detected when the company contacted the actual supplier and realized that the email was spoofed.
Recovery: A complaint was immediately filed through the National Cyber Crime Reporting Portal. The State Cyber Crime Investigation Centre, along with the Ministry of Home Affairs and Regions Bank in the USA, worked together to trace the funds and successfully recovered the entire amount.
This incident highlights the growing threat of online scams in India, where cybercriminals employ tactics like phishing and spoofing to deceive victims into transferring large sums of money. Despite the quick recovery in this case, it underscores the importance of being vigilant and verifying the authenticity of communications before making any financial transactions.
Cyber authorities have urged the public to be extra cautious when conducting financial transactions via email. Both individuals and businesses are encouraged to verify email authenticity, especially when dealing with large sums.
What is spoof email?
A spoofed email is a fraudulent message designed to appear as though it is sent from a legitimate or trusted source. In the scenario above, the scam email even included relevant business details, making it more convincing to the recipient. Scammers use such emails to trick victims into sharing sensitive information, transferring money, or clicking on malicious links. This tactic is particularly common in business environments, where attackers often gather information about financial transactions to enhance the credibility of their deception.
Tips to Avoid Falling Victim to Email Spoofing Scams:
Double-Check the Sender’s Address: Always verify the sender’s email address carefully before replying. Spoofed emails may use slight variations of legitimate addresses.
Examine the Email Content: Look for unusual language, grammatical errors, or urgent requests that pressure you to respond quickly or make a payment. These are common signs of a scam.
Verify Payment Details: When engaging in financial transactions, directly contact the supplier to confirm payment details before proceeding.
Report Suspicious Activity: If you receive a suspicious email, report it to the Cyber Crime Toll-Free Helpline at ‘1930’ or the National Cyber Crime Reporting Portal at [cybercrime.gov.in](https://cybercrime.gov.in).
Being cautious and vigilant when handling emails, especially those involving financial transactions, is crucial in protecting yourself and your business from these scams.
ndia is currently battling the rising threat of online scams. In recent years, thousands of individuals have lost lakhs and crores to cyber fraudsters. These scammers continuously devise new tactics to deceive people, luring them with promises of earning more money or tricking them through phishing and spoofing schemes, where victims ultimately lose significant amounts. The latest victim of such a scam is a Chennai-based business, defrauded of Rs 2 crore through an elaborate email spoofing scam.
In this case, the scammers targeted a trading firm called Agrigo Trading Private Limited in Chennai. According to a report by the Times of India, on September 26, the company’s general manager received an email that appeared to be from a legitimate supplier, continuing an ongoing business conversation. The email even included a proforma invoice and banking details for a payment of US Dollars 238,500 (around Rs 2 crore) to be transferred to a Regions Bank account in the USA.
Believing the email to be genuine due to the context of the business deal, the manager processed the payment via NEFT through the State Bank of India. It was only when the company followed up with the actual supplier the next day that they realised the email had been spoofed and that they had fallen victim to a scam.
Upon discovering the fraud, the company swiftly lodged a complaint through the National Cyber Crime Reporting Portal. The State Cyber Crime Investigation Centre registered the case and, in coordination with the Ministry of Home Affairs and Regions Bank in the USA, traced the funds. Thanks to prompt action, the authorities were able to recover the entire amount. However, the incident serves as a stark warning about the sophisticated ways cybercriminals use to deceive people. Vigilance is crucial.
Cyber authorities have urged the public to be extra cautious when conducting financial transactions via email. Both individuals and businesses are encouraged to verify email authenticity, especially when dealing with large sums.
What is spoof email?
A spoofed email is a type of fraudulent or phishing email where the sender’s address is faked to appear as if it comes from a legitimate or trusted source. In the above case, the details in the email also were related to the ongoing business. The scammer’s create such spoof emails to deceive recipients into believing the message is authentic and trick them into revealing sensitive information, transferring money, or clicking on malicious links. Email spoofing is usually seen in business setups as scammers get details around a business partnership’s payments and so on.
To avoid falling victim to such scams, here are some safety tips:
– Always double-check the sender’s email address before replying.
– Also if you are confused, check the email content. Look out for unusual language, grammatical errors or urgent requests which ask to reply urgently or pay money are usually a scam.
– Additionally, if you are engaging in a monetary transaction, verify payment details directly with the supplier.
-In case you encounter a fraudulent email, report any suspicious cyber activity to the Cyber Crime Toll-Free Helpline ‘1930’ or the National Cyber Crime Reporting Portal at cybercrime.gov.in.
