Lulu Group loses Rs 1.64 crore in email impersonation fraud

Kochi City Cyber Crime Police have launched an investigation into an email impersonation fraud that allegedly cost Lulu Group approximately Rs 1.64 crore (150,500 euros).

According to the FIR, the incident occurred between September 2 and September 29, 2024. Unidentified individuals allegedly created email addresses mimicking those of IE Park SRL, an Italian company with a long-standing business relationship with Lulu Group. Posing as representatives of the Italian firm, the fraudsters sent fake invoices and bank account details for outstanding payments related to gaming equipment.

Believing the communications were legitimate, Lulu Group transferred the funds to the accounts provided by the accused. The case was filed by the group's legal manager under various sections of the Bharatiya Nyaya Sanhita and the Information Technology Act, involving charges of cheating, forgery of electronic records, and impersonation.