Capillary Tech Subsidiary Loses EUR 3M to Cyber Fraud

Capillary Technologies India Ltd announced that one of its recently acquired overseas step-down subsidiaries has been a victim of a cyber-enabled banking fraud. Funds totaling approximately EUR 3.0 million were fraudulently transferred using advanced deep-fake methodologies, including voice cloning and signature forging. The company and subsidiary are pursuing legal and operational measures, coordinating with law enforcement and cybercrime authorities, and banks to recover the funds. The subsidiary is covered by cyber and crime insurance, and the insurer has been notified. The company has already recovered EUR 0.45 million, and additional funds have been traced and placed on hold by banks. No customer or employee data has been compromised, and business operations remain unaffected. The net financial impact is currently being assessed.