Raipur | November 11, 2025 | In a major breakthrough, NMDC Steel Limited (NSL), one of India’s leading public sector enterprises, successfully thwarted a cyber fraud attempt worth ₹120 crore through timely action and presence of mind. The incident took place at NSL’s integrated steel plant located in Nagarnar, Bastar district, where unknown cyber criminals tried to deceive the company by sending fake emails impersonating an American supplier.
Fraud Attempt Orchestrated Through Fake Emails
According to Bastar Superintendent of Police, Shalabh Sinha, the cybercriminals spoofed the official email ID of a legitimate U.S.-based vendor and established contact with NSL officials. The fraudsters created an elaborate and convincing email chain that appeared to be part of a genuine business transaction. They later sent altered bank account details for payment, tricking company officials into initiating the transfer process.
SBI’s Alertness Prevents a Major Financial Loss
The finance team of NMDC Steel Limited initiated the transfer of ₹120 crore through the regional branch of the State Bank of India (SBI) to what they believed was the supplier’s U.S. account. However, the bank’s foreign branch detected irregularities in the transaction pattern and immediately halted the payment, alerting the company in time.
An NSL spokesperson confirmed, “After receiving the alert from the bank, we promptly verified the request with the actual American supplier and learned that no such payment request had been made. Due to the swift action of both the bank and our internal team, the company suffered no financial loss.”
“Funds Completely Safe, Investigation Underway” — SP
Superintendent Sinha assured that the entire amount is safe and will soon be credited back to NMDC Steel Limited’s account. He further added, “Preliminary findings suggest that the fraud was linked to an international cyber network operating from abroad. A case has been registered at the Jagdalpur Cyber Police Station, and coordination with international agencies is in progress.”
“Email Trust Is No Longer Safe” — Cyber Expert
A cyber security expert explained that the case was a classic example of Business Email Compromise (BEC) — a sophisticated scam where criminals monitor email exchanges between large corporations and suppliers to send fake payment instructions at the right time.
He emphasized, “Companies must adopt two-factor verification, digital signature-based communication, and mandatory bank account cross-verification protocols to prevent such attacks.”
The expert further noted, “The prompt response by NMDC Steel Limited and SBI shows that cyber awareness and technological vigilance can prevent even large-scale financial crimes. In today’s digital era, cybersecurity is not an option — it’s a necessity.”
Industrial Pride of India — The Nagarnar Steel Plant
Spread across nearly 1,980 acres, the Nagarnar plant of NMDC Steel Limited is among the largest integrated steel facilities in the country, established at a cost of ₹24,000 crore. The plant sources coking coal from both domestic and international suppliers, particularly from Australia, to power its blast furnaces.
Last year, it achieved a remarkable milestone by producing 2 million tonnes of hot metal. The plant manufactures hot rolled coils, plates, and sheets, and operates on a zero-discharge environmental model, making it one of the most eco-friendly steel facilities in India.
Message of Cyber Vigilance
The incident stands as a reminder that strong coordination between corporations and the banking system can prevent even the most sophisticated cybercrimes. The combined alertness of NMDC Steel Limited and SBI not only protected ₹120 crore of public funds but also set an example for other institutions to follow.
“Cybersecurity is no longer a choice — it is a core requirement for every organization.”
