India, July 6 -- 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 Rs.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 just prior to this weekend (before July 3).

Capillary has taken legal and operational measures to safeguard and recover the transferred funds, including working with law enforcement, cybercrime authorities and concerned b...