Italian firm loses Rs 130 crore to hackers in con job

In perhaps the biggest such online heist, a Mumbai-based Italian firm lost Rs 130 crore to suspected hackers who allegedly convinced its local managers that the money was needed for an acquisition, police said Monday.

The hackers sent emails to the head of the Indian subsidiary of the firm through an email account, which looked similar to that of the group CEO, a police official said.

The hackers also arranged a series of conference calls to discuss about the acquisition, following which heads of the Indian subsidiary transferred the amount in given bank accounts time to time, he said.

Based on a complaint by the company officials, police registered a case against unidentified hackers at the cyber police station on January 12 and conducting further probe.