PRESS NOTE... Case of corporate email hacking

PRESS NOTECase of corporate email hacking

This is a case of corporate email hackings, The hacker collects database of company related information and hacks the email ids and intercepts it and transfers the funds to their accounts.
On 20.03.2019 received a complaint from M A Padmanabha Rao, Financial Controller, VoltaImpex Pvt. Ltd., Kondapur, Hyderabad in which he stated that the VoltaImpex is engaged in the business of export of engineering goods to customers, who are located in West African Region. One of whom is M/s.Diamond Cement (Mali), S.A, Mali of West Africa. Mr. Tamil Vannan is the financial controller at the Diamond Cement who used to communicate with VoltaImpex. Mr. Murali Krishna (k.muralikrishna@voltaimpex.com) is the Accounts Executive at VoltaImpex Pvt. Ltd. In Dec 2018 Mr. Tamil Vannan received a mail from k.muralikrishna@voltaimpex.com to his email id: tamil.fc.dcm@gmail.com for deposit of  pending payments into their company bank account i.e.,  Name: VoltaImpex, Andhra Bank, S.R.Nagar Branch, Hyderabad. Meanwhile in Mid of Jan 2019, Mr. Tamil Vannan received a mail from a fake email Id: k.muralikrishna-voltaimpex@mail.com with change of new bank details that Beneficiary Name: VoltaImpex Pvt. Ltd, Account No. 483077284890, Routing No.026009593, Swift Code: BOFAUS37, Bank Name: Bank of America, Bank Address: 150, Broadway, New York, NY 10038. Accordingly on 20th Feb 2019, M/s.Diamond Cement had remitted  USD 1,259,500.50. VoltaImpex received a fake SWIFT copy from fake email id: tamil.fc.dcm@mail.com, showing Andhra Bank account details of VoltaImpex as beneficiary. Since the remittance was not credited into their account, then they contacted with Diamond Cements, they told that they have transferred the funds to Bank of America. Later VoltaImpex came to know that they were cheated. He requested for taking necessary action. On the above complaint a case in Cr No.61/2019 U/Sec. 420 IPC & Sec. 66 (C) IT Act has been registered at Cyber Crime P.S., Cyberabad and investigated into. 
Precautions:
1. Maintain own websites to prevent hacking of email ids.
2. Observe the received email ids minutely and see the mail header/origin.
3. Take Non-Disclosure Agreement from employees and don’t allow browsing of  personal emails and prevent access to social networking sites.
4. Maintain strong firewalls from prevention of attacks like DOS attacks, Hacking, etc. 
5. Make sure the bank account number and bank details are correct before transferring the amount and have a constant communication with the opposite party to confirm the account details and other things.