In perhaps the biggest such online heist, a Mumbai-based Italian firm lost Rs 130 crore to suspected hackers who allegedly convinced its local managers that the money was needed for an acquisition, police said Monday.

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The hackers sent emails to the head of the Indian subsidiary of the firm through an email account, which looked similar to that of the group CEO, a police official said.

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The hackers also arranged a series of conference calls to discuss about the acquisition, following which heads of the Indian subsidiary transferred the amount in given bank accounts time to time, he said.

Based on a complaint by the company officials, police registered a case against unidentified hackers at the cyber police station on January 12 and conducting further probe.