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Lulu Group loses Rs 1.64 cr in email fraud

The Kochi City Police registered an FIR on Friday at the Cyber Crime Police Station based on a complaint by Deepak Sreedhar Nair, legal manager of Lulu Group, under various sections of the Bharatiya Nyaya Sanhita and the Information Technology Act.

DT NEXT Bureau

KOCHI: The police have registered a case and launched an investigation into an alleged email impersonation fraud in which unidentified persons posing as representatives of an Italian company cheated Lulu Group of around Rs 1.64 crore, officials said on Saturday.

The Kochi City Police registered an FIR on Friday at the Cyber Crime Police Station based on a complaint by Deepak Sreedhar Nair, legal manager of Lulu Group, under various sections of the Bharatiya Nyaya Sanhita and the Information Technology Act.

According to the FIR, the fraud allegedly took place between September 2 and 29 this year, when unidentified persons created email addresses resembling those of IE Park SRL, an Italian company that has a long-standing business relationship with Lulu Group.

Posing as representatives of the Italian company, the accused allegedly contacted Lulu Group through the fake email addresses and sent invoices and bank account details for payment of the outstanding amount for gaming equipment purchased, the FIR said.

Believing the communications to be genuine, Lulu Group transferred 1,50,500 euros, equivalent to around Rs 1.64 crore, to the bank accounts provided by the fraudsters, according to the FIR.

The accused have not been identified, and further investigation is under way, the police said.

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