Man-in-the-Middle (MitM) cyber thefts stole Rs 6.5 crore from a Pune-based company that deals with IT services and dried fruit imports on March 27.
A form of cyber fraud known as MitM occurs when an attacker intercepts and transmits communication between two parties, giving the impression that they are speaking with each other directly.
The 39-year-old company director allegedly got an email on the corporate ID from a US company he conducted business with regarding a payment request, according to the police complaint. He thought the email request was authentic, so he started the transaction.
However, when he later got in touch with representatives of the other company, they denied getting the money. When he looked at the email he had received, he saw that the other firm’s bank account number and email address had been altered by one letter by scammers.
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