Apollo Finvest Faces ₹2.94 Cr Cyber Fraud in Partnership Account

Apollo Finvest India Ltd has disclosed a material cyber fraud incident involving a joint bank account held under a partnership arrangement. Unidentified third parties perpetrated the fraud, resulting in an unauthorized transfer of approximately INR 2.94 Crores from the account. The company states that the compromise occurred at the partner's end, and both entities are victims. The partner has taken immediate action, including freezing the account, filing complaints, and initiating recovery efforts. The partner has committed to bearing the entire loss and reimbursing Apollo Finvest for its share. The company is monitoring the situation and coordinating with relevant authorities.