International Phishing Scam Targets MEIL: A Multi-Crore Heist

Megha Engineering and Infrastructure Ltd (MEIL) fell victim to a phishing scam, losing Rs 5.47 crore. Fraudsters impersonated a Dutch vendor's representative, tricking MEIL into transferring funds to a different bank account. An investigation is underway by the Telangana Cyber Security Bureau.

Infrastructure giant Megha Engineering and Infrastructure Ltd (MEIL) recently suffered a significant loss of Rs 5.47 crore in a sophisticated phishing scam orchestrated by fraudsters.

The perpetrators impersonated a representative from MEIL's Netherlands-based vendor, manipulating the company into depositing the funds into an alternate account in two installments.

Authorities have commenced an investigation following a complaint registered by the Telangana Cyber Security Bureau under the BNS and IT Act, revealing that fake email IDs were used in the fraudulent transaction.