PUNE: A leading Pune-based auto components manufacturer has fallen victim to a business email compromise (BEC) attack, losing ₹2.35 crore after fraudsters manipulated the firm’s communication channels to reroute vendor payments.
According to Pune Cyber Police, the fraud was discovered after the company’s finance team noticed discrepancies in payment acknowledgements from a longstanding overseas supplier. A probe revealed that attackers had infiltrated an executive’s email account by exploiting weak credentials and used it to impersonate the supplier.
How the Scam Unfolded
The attackers sent professionally crafted emails from the compromised account, instructing the firm’s accounts department to update banking details “for operational reasons.” Unaware of the deception, the finance team processed multiple transfers totalling ₹2.35 crore into accounts controlled by the fraudsters.
It was only when the actual vendor reached out about pending dues that the scam came to light. The attackers had also set up email forwarding rules, ensuring genuine correspondence was hidden while their instructions were fast-tracked.
Cyber officials said the criminals exploited the lack of multi-factor authentication (MFA) and basic security hygiene. “This case highlights how even mature enterprises can be duped through well-researched social engineering and mailbox manipulation,” an investigator noted.
The funds were routed through domestic mule accounts before disappearing into international channels, complicating recovery. Police have frozen several suspect bank accounts while collaborating with Interpol and Indian financial intelligence units to trace the remaining sums.
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BEC: A Growing Threat to Indian Firms
BEC fraud has surged across India, especially among export-driven businesses. In the first half of 2025 alone, Maharashtra cyber police recorded over ₹60 crore in losses linked to similar schemes. Experts caution that attackers increasingly target mid-sized companies with global supplier relationships, banking on employees’ trust in familiar email addresses.
Authorities urge businesses to adopt MFA, verify any payment change requests through independent calls, and conduct periodic cybersecurity training. The Pune firm has filed a formal complaint under relevant sections of the IT Act and IPC. An investigation is ongoing.
