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


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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