The Pune Cyber Police have arrested two Belagavi residents for allegedly siphoning off Rs1.9 crore from a construction company in Hadapsar through a sophisticated ‘man-in-the-middle’ cyber attack.
The accused have been identified as Ajay Ramvilas Yadav (22) and Salman Ghaus Moinuddin Ajmal (32), both residents of Belagavi. The arrests were made on February 19 following an investigation into a complaint registered on January 19.
Money Trail Led to Arrests
According to senior inspector Swapnali Shinde, financial transaction tracking revealed that the defrauded amount had been transferred to Yadav’s bank account. Yadav, who operates a hardware shop and maintains a joint bank account, was detained for questioning.
During interrogation, investigators discovered that Yadav had allegedly shared his bank account details with Ajmal.
Police said Ajmal, employed at a garage, allegedly lured Yadav with the promise of a commission in exchange for allowing the use of his account for the transaction.
How the Fraud Was Executed
As per the complaint filed by the Hadapsar-based construction firm, the company had placed an order for construction materials from an equipment supplier and was required to transfer Rs1.9 crore.
Fraudsters allegedly created a fake email address closely resembling that of the legitimate supplier and sent revised bank account details to the company. Believing the communication to be genuine and without verifying its authenticity, the firm transferred the funds to the fraudulent account.
The scam was uncovered only after the actual supplier informed the company that no payment had been received.
Hunt for Interstate Gang
Police suspect the involvement of a larger interstate cybercrime network behind the operation. Efforts are underway to trace and apprehend other members of the gang.
Investigations into the financial trail and digital evidence are ongoing.
