Breaches and incidents
Neochem Bio Solutions (India): MD’s WhatsApp account taken over, Rs 1.5 crore paid on fake instructions
The Ahmedabad chemical maker (NSE Emerge) said an unknown party gained access to the Managing Director’s WhatsApp account and issued payment instructions...
- Disclosed
- Verification
- Checked against a primary source
What happened
- The Ahmedabad chemical maker (NSE Emerge) said an unknown party gained access to the Managing Director’s WhatsApp account and issued payment instructions to the finance team; estimated impact Rs 1.50 crore. By 23 Jul about Rs 74.56 lakh (around 50%) was traced to 21 accounts at eight banks and frozen.
- Root cause: WhatsApp account takeover of a senior executive.
- Attacker: unidentified.
- Response: cybercrime portal complaint and FIR, bank recall and freeze, CERT-In notified, court application under BNSS sections 497 and 503 for release of frozen funds, IT assets examined for malware.