Accounts manager falls victim to cyber fraud; retail firm loses over Rs. 18 lakh

Hyderabad: In a shocking incident, the accounts manager of a retail firm in Hyderabad fell victim to a cyber fraud under the guise of a routine vendor payment, leading to a loss of Rs. 18,00,975.

According to the complaint, Nidamanuri Vijaya Saradhi, a 42-year-old accounts manager, received an email from the address amruta_herbals. rediff@mail.com on November 7, impersonating the company's regular vendor, Amruta Herbals Pvt Ltd.

The email requested a fund transfer towards an advanced payment and provided details of a bank account at Canara Bank. Trusting the email to be from Amruta Herbals, Saradhi transferred Rs. 18,00,975 from his company's Kotak Bank account in Madhapur.

The fraud was uncovered later that day when the vendor contacted Saradhi's firm inquiring about the pending payment. Realizing that they had been scammed, the company staff visited the Canara Bank branch on November 11. The bank officials informed them that the funds were still in the fraudulent account and assured them that the funds could be held if a police complaint was filed.

Consequently, the retail firm filed a complaint with the cybercrime helpline 1930 on the same day. The Cyberabad cybercrime police have registered an FIR (8296/2024) and are currently investigating the case.