Breaches and incidents
Dr. Reddy’s Laboratories (India): vendor-impersonation fraud diverts Rs 2.16 crore, funds frozen
Responding to an NSE query about a LiveMint report (“Hackers dupe Dr Reddy’s Laboratories of Rs 2.16 crore”), the company said the incident involved...
- Disclosed
- Verification
- Checked against a primary source
What happened
- Responding to an NSE query about a LiveMint report (“Hackers dupe Dr Reddy’s Laboratories of Rs 2.16 crore”), the company said the incident involved impersonation of a vendor; the funds were frozen with banking partners and there was no financial loss to the company or vendor. It classed the event as not material.
- Root cause: vendor impersonation (bank-detail change fraud).
- Attacker: unidentified.
- Response: funds frozen; no Reg 30 disclosure because not material.