Scammers Impersonated Company MD on WhatsApp, Leading to a ₹1.95 Crore Fraud
A major cyber fraud was reported in Hyderabad, where an accounting officer of a private company received a WhatsApp message from someone posing as the company’s Managing Director (MD). The scammer instructed the officer to transfer ₹1.95 crore for an "advance payment on a new project".
Without verifying, the accountant transferred the money. However, the real MD was alerted by the bank, exposing the scam. The company immediately reported the incident to the Cyber Crime Cell, and the police successfully recovered the full amount.
The scam unfolded when the company's accounting officer received a WhatsApp message that appeared to be from the company’s MD. The message stated:
"Transfer ₹1.95 crore to this account as an advance payment for a new project."
Since the message seemed authentic, with the MD’s profile picture, name, and writing style, the officer did not suspect fraud and transferred the funds immediately.
Shortly after, the real MD was notified of the large transaction by the bank, leading to the discovery of the fraud.
Realizing the fraud, the MD quickly contacted the accounting officer, who confirmed that the instruction came via WhatsApp. The MD denied sending any such message, confirming that the company had fallen victim to a scam.
The company immediately reported the case to the National Cyber Crime Reporting Portal (NCRP).
The Telangana Cyber Security Bureau, local police, and bank officials quickly tracked the transaction. Fortunately, the scammers had not yet withdrawn the money, allowing authorities to freeze the account and recover the full amount.
After the successful recovery of the stolen funds, the Telangana Cyber Crime Department issued key safety tips to prevent such scams:
✅ Verify payment requests: Never transfer large sums of money based on WhatsApp, email, or phone requests without verification.
✅ Use official communication channels: Always confirm financial transactions through authorized company channels.
✅ Report scams immediately: If you suspect fraud, call the 1930 Cyber Crime Helpline or file a complaint at www.cybercrime.gov.in.
This scam highlights the rising threat of cyber frauds and the importance of quick action. Thanks to the company's alertness and immediate reporting, the police were able to recover the stolen funds before the scammers could withdraw them.
With cyber crimes increasing, it is essential to stay vigilant, verify transactions, and report suspicious activities to prevent financial losses.
