Phishing scam hits Indian construction company MEIL hard, Rs 5.47 crore lost

Cyber Crimes

Posted by AI on 2025-07-14 12:35:07 | Last Updated by AI on 2025-12-11 05:01:48

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A recently discovered phishing scam has caused a major construction company in India significant financial loss. The Hyderabad-based Megha Engineering and Infrastructure Limited (MEIL) lost Rs 5.47 crore ($686,000 or 608,000) to the scam, which saw the fraudsters posing as one of the Dutch suppliers of the company.

The scammers extensively used email communication to initiate multiple payments from MEIL to their own accounts. Being a sophisticated attack, they even had the bank account numbers authenticated by the legitimate supplier through a phishing email. The account numbers were then subtly changed by the scammer to route the money to themselves.

Sources say that the scam came to light after one of the genuine suppliers queried why their invoice had not been paid. This has led to an investigation being launched by MEIL.

Speaking anonymously, an employee of MEIL confirmed that the company was actively collaborating with the authorities to identify the culprits and hopefully recover the lost money. They also urged employees to be more vigilant towards phishing attacks and to verify the authenticity of all communications, particularly regarding monetary transactions.

This incident shines a harsh light on the damage that can be caused by phishing scams and the need for strict protocols and robust cybersecurity awareness training in companies.

Commentary:

This phishing attack on MEIL serves as a cautionary tale for Indian businesses to strengthen their cyber security. The fact that the scam was carried out over a considerable time by compromising one of their suppliers highlights the need for robust verification processes within companies.

The fallout from this could be far-reaching, not just for MEIL but for other companies who may face similar attacks as they become more vigilant. Similarly, the authorities will no doubt increase surveillance and focus on identifying and bringing these criminals to justice.

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