"We would like to clarify it is not a case of hacking. Flipkart's corporate email system leverages the highest standards of security including but not limited to two factor authentication," it said in a statement.
A spoofed email does not originate from the real source but from a different source falsifying the name and address with an ulterior motive.
A leading newspaper on Friday reported that Bansal's email account was hacked and two emails were sent in his name to Flipkart's CFO Sanjay Baweja on March 1 at 11.33 a.m., directing him to transfer $80,000 (roughly Rs. 52 lakhs).
The company said it filed a police report complaining on email spoofing its CEO suffered.
"We have filed a case of email spoofing which involves use of a forged email header to make it look like a legitimate email. This case of email spoofing was immediately detected and a report was filed with police," the statement added.
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