Cops thwart cyber fraud by stopping bank transaction in time

Thwarting a man in the middle attack kind of cyber fraud, Mumbai Police has managed to stop a fraudulent online banking transaction of Rs 44.43 lakh, an official said on Saturday.A man in the middle attack is a type of cyber crime where a fraudster intercepts and relays online messages such as emails between two parties who believe they are communicating directly with each other.

Thwarting a `man in the middle attack' kind of cyber fraud, Mumbai Police has managed to stop a fraudulent online banking transaction of Rs 44.43 lakh, an official said on Saturday.

`A man in the middle attack' is a type of cyber crime where a fraudster intercepts and relays online messages (such as emails) between two parties who believe they are communicating directly with each other. Cyber fraudsters managed to get in between the communication of the director a Mumbai-based textile company and his partner company, a crime branch official said. The unidentified fraudster sent wrong bank account details through net banking on which the transaction of Rs 44.43 lakh was made, he said.

The company director, however, realised that the account number was wrong, following which he alerted the 1930 helpline of cyber police.

The cyber police approached the bank and stopped the transaction, the official said, adding that this became possible only because the complainant approached police without wasting time.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)