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Identity theft: ONGC falls prey to cyber fraud, loses Rs 197 crore

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In one of the biggest cyber crimes in Mumbai, the Oil and Natural Gas Corporation Limited (ONGC) lost Rs 197 crore after cyber criminals duplicated the public sector firm’s official e-mail address with minor changes and used it to convince a Saudi Arabia-based client to transfer payments to their account. The fraud was committed on the promise that the company making the payment would not notice a minor change in the e-mail address of the ONGC representative, with whom they had been communicating.

To read more at: The Indian Express

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