A Mumbai-based private company has fallen victim to a sophisticated WhatsApp impersonation fraud, losing a staggering ₹10.4 crore across 63 separate transactions. The elaborate scam, which unfolded over 12 days, highlights the growing challenge of cybercrime targeting corporate entities.
How the WhatsApp Impersonation Fraud Unfolded
The fraud began on June 3 when a deputy general manager in the company’s accounts department received a WhatsApp message from an unknown number. The sender identified himself as the firm's executive director and instructed the employee to save the number as his “personal contact.” To bolster the deception, the fraudster used the real executive director’s photograph as the display picture.
The scammer claimed to be in an urgent meeting and unable to take calls, directing the employee via WhatsApp messages to transfer funds to several bank accounts. Believing the requests were legitimate, the employee initiated the first transfer of ₹46.5 lakh. Over the subsequent 12 days, between June 3 and June 15, the employee processed 63 transactions, totaling ₹10,40,71,924, as instructed by the fake executive director.
Discovery and Police Investigation
The massive corporate fraud remained undetected until the employee later contacted the actual executive director through official communication channels to follow up on payment invoices. It was then that the executive director denied issuing any such instructions, revealing the scam.
Following a formal complaint, Mumbai police launched an investigation to trace the money trail. A significant breakthrough occurred when Delhi police received information from the Jasola branch of IDFC FIRST Bank regarding suspicious attempts to withdraw funds. Acting on this tip-off, Delhi Police arrested two suspects, Vikas and Vansh, who were attempting to withdraw ₹8 lakh in cash. During questioning, they confessed to allowing their bank accounts to be used for routing fraudulent funds in exchange for commissions.
Further investigation led to the arrest of two more individuals, Faiyaz Alam and Amit. Authorities stated that these accused were part of a network providing bank accounts to cybercriminals for laundering stolen money. Police suspect a larger cybercrime syndicate is involved and are continuing their efforts to identify the mastermind behind the extensive operation.