In the wake of widespread news reports alleging a cyberattack on Safexpay leading to fraudulent activities worth Rs. 16,180 crore, Safexpay, a prominent digital payments firm, has stepped forward to definitively disassociate itself from these allegations.
In an official response to The Cyber Express, the company categorically states that it has “no association with the said fraudulent transactions and is committed to upholding the highest standards of integrity and transparency within the financial system.”
In an account of the incident, the report detailed that in June 2023, Safexpay took proactive measures by filing a police complaint, officially registered with the Srinagar Police Station in Thane, Maharashtra. The complaint centered on the discovery of suspicious transactions totaling Rs. 25 crore that was detected on its payment gateway.
Subsequently, the company collaborated closely with banks, promptly lien-marking Rs. 7 crore to responsibly address and resolve the matter.
The FIR (First Information Report) was registered based on Safexpay’s complaint, leading law enforcement authorities to apprehend the culprits involved in the reported transactions.
During the investigation, a separate and significant revelation came to light, exposing fraudulent transactions totalling Rs. 16,180 crore, orchestrated by distinct entities utilizing various fraudulent bank accounts entirely unrelated to Safexpay.
Safexpay Disassociates from Fraudulent Transactions
Elaborating the incident, the firm’s legal spokesperson said, “The Company’s vigilance and prompt reporting to cybercrime units resulted in law enforcement agencies discovering a series of fraudulent transactions, which have no correlation with Safexpay.
“Interested parties can refer to the FIR for a comprehensive understanding of the case and engage with the relevant authorities for further information. We have diligently adhered to all legal protocols by promptly and comprehensively reporting the incident,” they added.
“It is essential to note that the sum of INR 16,180 crore does not pertain exclusively to our organization; it involves other entities with no direct ties to our company.”
“Additionally, the accused parties mentioned in the articles have no affiliation with Safexpay. We are fully committed to closely collaborating with concerned agencies to ensure a thorough investigation into this matter.”
“Safexpay remains resolute in our dedication to transparency, integrity, and the highest ethical standards. Our unwavering commitment to the stability and trustworthiness of the financial system will continue, and we will fully cooperate to ensure a comprehensive investigation into this matter,” concluded the legal spokesperson.