Hindustan Aeronautics Limited (HAL), a state-owned defence and aerospace manufacturer in India, fell victim to cyber fraud involving ₹55 lakh. Scammers posing as a US-based firm tricked HAL’s Kanpur branch using a fraudulent email, leading to financial loss. Authorities are investigating the cyber scam.
Hindustan Aeronautics Limited (HAL), a state-owned defence and aerospace equipment manufacturer in India, became a victim of cyber fraud after scammers impersonated a US-based aircraft parts seller. The fraud resulted in a financial loss of ₹55 lakh as the attackers manipulated email communications and bank details. The incident occurred in Kanpur, Uttar Pradesh, and was officially reported to authorities on March 13, 2025.
How HAL Lost ₹55 Lakh
The cybercriminals sent a fraudulent email to HAL’s Kanpur wing, posing as PS Engineering Inc., a legitimate US-based aircraft parts dealer. The fake email ID closely resembled the actual company’s email, with only one missing letter in “engineering.” This minor alteration went unnoticed by HAL officials, leading to a payment of $63,405 (approximately ₹55 lakh) being rerouted to a fraudulent account.
According to reports, HAL had initially contacted the real PS Engineering Inc. in May 2024 for purchasing aircraft components. However, scammers intercepted the email conversation and later replaced the legitimate email with a fake one, deceiving HAL into transferring funds to the wrong account.
Detection and Investigation
The fraud came to light when PS Engineering Inc. informed HAL that they had not received any payment. Upon reviewing the transaction, HAL officials discovered the email discrepancy. Following this, Additional General Manager Ashok Kumar Singh filed an FIR with the Cyber Police Station in Kanpur.
Kanpur’s Deputy Commissioner of Police (Crime), Anjali Vishwakarma, stated,
HAL was in talks with a US company for aircraft parts. Initially, there was a legitimate email ID, but at some point, it was replaced with a fraudulent one missing just one letter.”
Authorities are now investigating whether the scam was orchestrated by a foreign entity or if an Indian group was involved in the fraudulent scheme.
Impact on HAL’s Stock and Market Sentiment
Despite the cyber fraud incident, HAL’s stock price showed resilience, trading 3.92% higher at ₹3,574.40 in the stock market session on March 18, 2025, compared to ₹3,439.60 at the previous close.
As investigations continue, cybersecurity experts emphasize the need for stricter verification processes to prevent such fraudulent activities in the future.
