June 16, 2024

The cyber heist occurred between February 23 and March 16. (Symbolic)

Mumbai:

Mumbai law enforcement successfully retrieved Rs 82.55 lakh lost by a well-regarded international school in south Mumbai, through an online ‘man in the middle’ (MITM) attack, said an official on Friday.

An MITM assault is an online strategy where the fraudster secretly intercepts and modifies the conversation between two parties who believe they are interacting with each other directly.

“The cyber heist ensued from February 23 to March 16, while the school was in the process of acquiring materials for a new cafeteria. The school awarded the contract to a firm based in UAE, who provided its bank details as part of the agreement,” explained the cyber cell officer.

“An anonymous party created a similar email ID and provided the details of a US-based bank. Believing the email was from the UAE contracting firm, the school transferred Rs 87.26 lakh. The school recognized the irregularity shortly afterwards and reported it to the Central Region Cyber police station,” he recounted.

A case was then filed against the unidentified individual under the Indian Penal Code and Information Technology Act. Connection with the bank’s nodal officer led to the retrieval of Rs 82.55 lakh, said the officer.

“Both individuals and organizations should regularly update their digital systems for better security measures. Email IDs and other details should be verified thoroughly before completing online transactions,” he advised.

(Except for the headline, this story has not been edited by NDTV staff and is derived from a syndicated feed.)