Empowering MSMEs with News & Insights

Kerala cashew exporters fall prey to online hacking

Updated: Nov 14, 2013 05:08:15pm
image
Thiruvananthapuram, Nov 14 (KNN) A leading cashew exporter from Kollam in Kerala, Shreedurga Cashew Factory, has fallen prey to internet hacking, loosing payments, receivable from US based buyers.

The Sreedurga Cashew Factory has raised the issue with the Cashew Export Promotion Council of India (CEPCI) seeking payment of USD 3,08,500 for which it had made shipments in October.

Sreedurga had made three shipments worth USD 1,12,000; USD 1,12,000; and USD 94,500 through local brokers of a US firm.

As per the contract, the buyers had to make payment by wire (TT) within 72 working hours from the date of receiving email copies of Bill of Lading (BL) and invoice.
Thanks to apparent hacking, the payment made by the US based buyers got diverted to Hong Kong.

According to the buyer’s version, the payment route was given by the broker, who now claims that his email id got hacked and false instructions were given by the hackers.

“We seriously don’t know what our fault is…whatever happened we are suffering,” Managing Partner of Sreedurga Cashew Factory, Pradeep D Nair said in his letter to the CEPCI.

"Almost every hour hacking incidents happen but businesses continue to take casual approach towards information security until they become victim of any such cases,” said Managing Director, SPaul Complete IT Solution Private Limited, Shubhneet Goel.
 
“It's really important for Business Owners to take preventive steps in their organization to prevent hacking cases in their organization. These steps can be as simple as switching to Linux (Free and Open Source) where most of the viruses and Trojans are ineffective and can further work on securing their network, computer and applications," Goel added.
 
In 2011-12, India exported cashew nut kernels worth Rs 4390.68 crore and cashew nut shell liquid worth Rs 59.46 crore to different parts of the world.  US is the largest importer of cashew nuts from India, as it imported Rs 1470.47 crore worth cashew nuts kernel in 2011-12.
 
India is the largest producer and exporter of cashew kernels in the world. Over 65 per cent of the world export of cashew kernels is accounted for by India. Indian cashews are consumed in as many as 60 countries all over the world, the major markets being the United States, the United Kingdom, Japan, Netherlands, Australia, Canada, Germany Hong Kong, Singapore, New Zealand and the Middle East countries.   (KNN/SD)

COMMENTS

    Be first to give your comments.

LEAVE A REPLY

Required fields are marked *