Indore Cyber Cell Recovers ₹3.72 Crore from International Cyber Scam

The State Cyber Cell, Indore, through the Indian Cyber Crime Portal (I4C) and the United States Cyber Portal (IC3), successfully got an amount of ₹3.72 crore frozen/held and recovered, which was fraudulently siphoned off through an international cyber fraud involving an Indore-based company.

A private company based in Indore, Shivganga Drillers Private Limited, was required to make a business payment of USD 415,017.58 (approximately ₹3.72 crore) via an international transaction to its vendor, Innovex International Inc., located in Houston, USA.Cybercriminals used Business Email Compromise (BEC) and spoofed emails to fraudulently divert this international foreign remittance into a suspicious bank account at JP Morgan Bank, USA. A spoofed email is a fraudulent email in which the sender manipulates the email domain or name to make it appear as if it has been sent from a trusted source such as a bank or company. Similarly, Business Email Compromise (BEC) is a type of fraud that specifically targets businesses to trick them into making unauthorized payments.After fraudulently transferring the amount to the suspicious account, the cybercriminals again sent a spoofed email to the Indore-based company, falsely claiming that the payment had been rejected. They then provided an alternate bank account and requested the company to make the payment again. When the company became suspicious, it contacted its vendor directly by phone and discovered that a fraud had occurred.Upon receiving the complaint, the State Cyber Cell, Indore, immediately registered an online case on the National Cyber Crime Portal (I4C). Since the suspicious bank account was located in the United States, a complaint was also lodged on the IC3 (Internet Crime Complaint Center) portal, which operates under the FBI, to ensure the swift freezing/holding of the funds in the US bank account.Using the complaint reference numbers from both I4C and IC3, JP Morgan Bank was promptly informed through official emails. As a result of this swift action, JP Morgan Bank held the fraudulently transferred amount in the suspicious account. Through Bank of India, where the Indore-based company holds its account, the international recall process was initiated. This timely intervention successfully prevented the financial fraud, and the entire amount in US dollars was returned to the company.

Inspector Shri Dinesh Verma and Sub-Inspector Shri Itendra Singh, posted at the State Cyber Cell, played a commendable role by coordinating with the Indian Cyber Crime Portal, the US Internet Crime Center, and the victim company’s vendor, ensuring that the fraud amount did not reach the criminals.

The State Cyber Cell appeals to all citizens and business organizations to independently verify any changes in bank details received via email before making payments. In case of any suspicion, they are advised to immediately contact the nearest cyber cell or the National Cyber Crime Helpline.