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Pharma Giant Alkem Laboratories Faces Security Breach, Rs 52 Crores at Stake

Posted on January 13, 2024 by Dissent

Sharad Natani reports:

Pharmaceutical giant Alkem Laboratories confirmed Friday that a cybersecurity incident led to a fraudulent transfer of Rs 52 crore from one of its subsidiaries. While the company maintained the impact was minimal and confined to a specific incident, the disclosure raises concerns about vulnerabilities in India’s pharmaceutical sector to cyberattacks.

Without revealing the exact nature of the security breach, Alkem stated that fraudulent actors compromised the business email IDs of some employees at its subsidiary. Though the amount stolen wouldn’t trigger mandatory reporting thresholds as per company policy, the Board of Directors chose transparency, disclosing the incident to the stock exchanges.

Read more at The420.in.

 

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Category: Business SectorHackHealth DataNon-U.S.

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2 thoughts on “Pharma Giant Alkem Laboratories Faces Security Breach, Rs 52 Crores at Stake”

  1. BIJENDER MISHRA says:
    January 13, 2024 at 11:49 am

    this happened in Oct 2023 with one of the international subsidiary and post fraud checkpoint solution was deployed and it has been working fine so far

    1. Dissent says:
      January 13, 2024 at 12:52 pm

      How do you know that it’s been working fine? Are you an employee?

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