What is a sophisticated attack

What is a Sophisticated Attack? | Pune Auto Parts Firm Cheated of Rs 2.35 Crore.

by

Welcome to CybercrimesDaily In this article, we will know what is a sophisticated attack? and how Pune auto parts firm was cheated of Rs 2.35 crore. A Pune-based auto parts manufacturing company has been the victim of a cyber attack, resulting in a loss of Rs 2.35 crore to the company. The cyber criminals carried out the incident by posing as executives of an Italian manufacturing company.

What is a sophisticated attack?

What is a sophisticated attack

The fraud began when the Pune-based company, known for manufacturing automobile components, machining fixtures, drilling trolleys and customized auto parts, initiated a contract execution process to purchase a press bending machine from an Italy-headquartered multinational company.

The machine, worth the equivalent of Rs 3.1 crore, was part of a legitimate business transaction that began in February 2025.

According to the FIR filed by the director, in March, the director received a purchase order via email from an India-based sales executive of the Italian firm. Between April and May, the Pune-based firm paid an advance of Rs 75 lakh to confirm the order, which is 25% of the total cost. However, the cybercriminals intercepted the communication and also manipulated the transaction details.

By June, the criminals, posing as executives of the Italian firm, fraudulently provided bank accounts. The Pune-based company took a loan of Rs 2.25 crore to complete the payment and transferred a total of Rs 2.35 crore in two instalments in the first and second weeks of June.

What Exactly Is a “man-in-the-middle” Attack?

In a “man-in-the-middle” (MITM) attack, also known as an “on-path” attack, cybercriminals intercept communication between two parties. In this case, cybercriminals intervened by cutting off communication between a Pune auto parts firm and an Italian supplier.

The attackers altered transaction details, such as bank account information, to transfer funds to their own accounts.

The Pune and Pimpri Chinchwad cyber crime police have repeatedly warned businesses about such attacks and have stressed the need for robust cyber security verification processes in international transactions.

Despite these warnings, the Pune Company fell victim to the carefully planned scam.

Ongoing Investigation

The fraud came to light when the Italian company did not receive the money, prompting the Pune firm to launch an investigation. The company immediately filed an FIR and the case is now being investigated by the Pune cyber crime police. The police are working to trace the bank account and identify the criminals behind the scheme.

Read Also

Protect Your Business From Cyber Fraud.

  • Always verify the authenticity of emails and other communications. Communicate directly with business partners and use phone calls only if necessary.
  • Use multi-factor authentication (MFA), make email and banking systems more robust with MFA.
  • Educate employees about phishing, MITM attacks and other cyber threats from time to time to increase alertness.
  • Verify bank account details before making payments anywhere, call directly if necessary.
  • Communicate with cybersecurity experts, and keep system updates updated regularly. Hire cybercrime experts if necessary.

What are the four types of attacks?

1. cloud,
2. physical (devices, servers, stolen devices),
3. human (phishing, insiders), and
4. social engineering

What does Cisa stand for?

Cybersecurity and Infrastructure Security Agency (CISA)

What is phishing in cyber security?

Malicious actors attempt to individuals into revealing sensitive information, such as usernames, passwords, or other personal data.

What is a firewall used for?

A firewall is a security system that protects networks and devices.

Fallow Us

Leave a Comment