Chennai businessman loses Rs 2 crore in an email scam with just a single click

A Chennai-based businessman almost lost Rs 2 crore after falling victim to a well-planned cyber scam. Fraudsters sent a fake email to Agrigo Trading Private Limited, convincing the company to transfer the huge sum to a fraudulent account, as reported.

The scammers infiltrated legitimate business communications, sending an email that looked like it came from the company’s supplier. The email, from the address kunal1113@gmail.com, was part of an ongoing email conversation, making it appear authentic. It included a pro-forma invoice for $238,500 (around Rs 2 crore) along with bank account details for the transfer.

Thinking it was genuine, the company’s general manager transferred the amount through NEFT from their State Bank of India (SBI) account in Chennai to the specified Regions Bank account in the U.S. on September 26.

The scam was discovered the next day, September 27, when the businessman contacted the real supplier and found out the email was fake and that the payment had gone to scammers.

Upon realizing they had been tricked, the company promptly filed a complaint on the National Cyber Crime Reporting Portal. The State Cyber Crime Investigation Centre quickly registered a case under sections of the IT Act 2000 and BNS 2023.

Cybercrime Team Acts Swiftly

The cybercrime team acted quickly, working with the State Bank of India and Regions Bank in the U.S. With assistance from the Ministry of Home Affairs and I4C (Indian Cyber Crime Coordination Centre), they were able to trace the fraudulent transaction. Thanks to their prompt actions, the entire Rs 2 crore was successfully recovered and returned to the company’s account.

This case highlights the increasing danger of cybercrime in both personal and business transactions. Scammers often use email spoofing to pose as legitimate contacts, making it easy for companies to fall victim.

What to Do If You’ve Been Scammed

If you suspect that you’ve been targeted by a scam, report it immediately by calling the Cyber Crime Toll-free Helpline at ‘1930’ or by filing a complaint at ‘www.cybercrime.gov.in’. In this instance, the businessman was fortunate enough to recover his funds, but many others may not be as lucky. Always verify the authenticity of emails, especially when large amounts of money are involved.