Alkem Subsidiary Reports Cyber Incident Involving Fund Transfer Fraud

Alkem Laboratories Ltd. on Thursday said its subsidiary Enzene Biosciences Ltd. had identified a cyber security breach at its US unit, involving the compromise of business email identity documents of certain employees.

The breach resulted in a fraudulent fund transfer, though the exact amount is still under investigation, the company said in an exchange filing.

Enzene has brought in independent external agencies to carry out a detailed probe. The agencies will submit their findings to both Enzene's board and Alkem.

The company is also in the process of filing necessary complaints with the relevant government and regulatory authorities, it added.