Capillary Technologies’ Subsidiary Hit By €3 Mn Cyber Fraud

SaaS company Capillary Technologies announced that one of its “recently acquired step-down subsidiaries” has been hit by a cyber-enabled banking fraud, leading to a loss of €3 Mn (about ₹32.7 Cr). The funds were fraudulently transferred to an unauthorised third-party bank account using advanced deepfake methods including cloning, signature forging, social engineering to impersonate the company’s senior management, Capillary said in an exchange filings. As per the company, the exploit took place