Renowned home appliance company suffers from online fraud worth millions of rupees

A well-known home appliance company in Pakistan has just been swindled to the tune of millions of rupees by a group of hackers. This massive act of online fraud involved the hackers tricking the company to deliver equipment to locations in Karachi, Lahore, and Rawalpindi without paying for it.

According to the Cyber Crime Wing (CCW) of the Federal Investigation Agency (FIA), a group of hackers tricked the company after hacking its software.

The hackers purchased the company’s appliances online using fake credentials and then updated the payment details in the hacked software. The hackers basically fooled the company into believing that the payment had been made, even though this was not the case.

According to officials, after verification, the expensive appliances were delivered to the address mentioned by the home appliances company. However, when the company’s accounts were checked, the money was never transferred. As a result, the company lodged a complaint with the FIA.

Officials say inquiries are underway in Karachi, Lahore and Rawalpindi, but no suspects have been arrested so far.

Online fraud in Pakistan has been on the rise this year. Earlier this year, according to the FIA, various acts of online fraud amounting to over 100 million rupees were committed. The CCW discovered that more than 55 million rupees’ worth of fraud was committed through online banking, while fake websites accounted for more than 7.8 million rupees’ worth of online fraud.