MUSCAT: Oman’s National Biscuits Industries has lost over OMR 70,000 because of internet fraud, the company said in a statement.
In a disclosure through the Muscat Securities Market, the company said deceptive domains of the company as well of the company’s hardware supplier were created by “unauthorised persons with mala fide intentions”.
“Email messages were unknowingly exchanged between employees of the company and the hardware supplier through the fake domain email IDs,” the company explained.
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During this process, the company had received an email for exchange of bank account of the supplier. “After due verification of bank documents , a payment of Euro 160,799 (OMR 70,111.69) was transferred to the requested new bank account,” the company said.
“The machinery was also received from the supplier in good working condition. Subsequently, the machinery supplier informed the company that they had neither requested change of bank account nor received the payment. Both the parties then became aware of the fraud,” the company pointed out.
Both the companies have initiated legal measures, including law enforcement departments, to recover the lost amount.
“Meanwhile, the company has strengthened it’s internal control systems including IT control framework to avoid recurrence and minimize risks,” the statement added.
