Hong Kong Hackers Transfer Rs 48 crore From a Private Fianance Firm's Bank Accounts, 2 Held

BENGALURU: Two individuals residing in Dubai hired hackers belonging to Hong-Kong to indulge in unauthorized and suspicious money transfer to a tune of Rs 48 crore from the bank accounts of Bengaluru based Wisdom Finance Private Limited. The money was transferred to multiple accounts using foreign IP addresses and rented servers before Bengaluru Cyber Crime police successfully investigated the case and arrested two individuals in this connection.

After registering a case based on a complaint from the Senior Manager of Wisdom Finance Private Limited at the Cyber Crime Police Station in Bengaluru city stated between August 6-7 midnight, several unauthorized and suspicious money transfers had taken place from the company’s bank accounts.

Police investigations revealed two Dubai-based individuals reportedly hired Hong-Kong based hackers to tamper with bank accounts of Wisdom Finance Private Limited using Hong Kong and Lituvania based IP addresses. The IP addresses were tracked back to 5 rented servers.

Meanwhile, the Company's internal investigation revealed the fraudulent transaction in its bank accounts had not been made from Wisdom Finance Private Limited’s official system or registered IP addresses.

However, police investigations detected a total of 1,782 transactions had been made from Wisdom Finance bank accounts and money transferred into 656 different bank accounts. Over the transactions, investigation by the police pointed to an individual wherein Rs 27, 39,000 has been transferred directly into his bank account. The individual was arrested on September 25 and remanded to judicial custody.

Continuing its investigation into the fraudulent transactions, Cyber Crime police came across Rs 5.5 crore transferred from the company’s account to the bank account of a firm in Hyderabad and later routed to an ICICI bank account belonging to another individual. On October 9, police arrested another individual.