In a case of cyber fraud, an MNC based in Hyderabad's Madhapur has been cheated of Rs 8 Cr by hackers. The company is into the export-import business of tools. It has been doing business regularly with a West Africa-based company.

The cyber hackers learned that the companies have had business dealings for years. They hacked into the email id of the African company, learned the details of their dealings and understood how to fool the Madhapur company. They created a spoof email id of the African company and sent a business proposal to the Madhapur company, saying that Rs 8 Cr should be transferred to so-and-so bank account in America for materials to be imported.

The spoof email id was entirely similar to the African company's id but for just one letter. This escaped the attention of the Madhapur company's employees. They sent the amount but didn't receive the material. When they finally discovered the fraud, Cyberabad commissionerate's intervention was sought. The case is in progress.