CEO Fraud: Online scams have become quite common in today's time. Scammers keep trying to defraud people in different ways every day. One such shocking case of online scam has come to light from Pune, where an accountant transferred Rs 1.9 crore to scammers by trusting a phone call. Actually, the scammers called the person posing as a boss and asked him to transfer the money. Let us tell you how this scam happened. 

How did this scam happen?
The scam started on March 6 when the accountant received a message from someone pretending to be the director. To avoid suspicion from the accountant, the scammers used the director's photo as their profile picture on the messaging app. According to a TOI report, the fake director said he was in a business meeting and needed the money transferred immediately. He also asked the accountant not to call or message him, saying he was busy finalizing a deal. 

How was the scam detected?
The man thought that the call must have been made by the director of his company. So, trusting the message, the man working from home transferred the entire amount to the bank account given in the message. The scam was detected when the director came to the company's office and checked the account. By then, the money had disappeared. Such scams are called whale fishing scams or CEO fraud. 

How to avoid such scams?
If you receive a suspicious message, call the sender directly to confirm. Enable security features on messaging apps that alert you. No matter how urgent it is, always check bank details before transferring money. Do not immediately trust any unknown message, especially when it comes to money transactions.