Hyderabad firm loses Rs 1.2 crore in WhatsApp impersonation scam

A company lost Rs 1.2 crore after a cyber fraudster impersonated its owner on WhatsApp and tricked an accountant into transferring funds. The fraud was discovered days later, and police suspect the scam exploited trust and lack of verification.

Hyderabad: A city-based woman entrepreneur’s company was allegedly duped to the tune of Rs 1.2 crore after a cyber-fraudster impersonated her on WhatsApp.

As per information available, the incident occurred on March 13 when the firm’s accountant received a message from an unknown number using the entrepreneur’s name and display picture. Assuming it was his employer, the accountant followed instructions to check the company’s bank balance and urgently transfer funds to a specified account.

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Trusting the request, he transferred Rs 1.2 crore without cross-verifying the message.

However, the fraud came to light only on March 17, after the accountant reportedly received another similar instruction and sought confirmation directly from the business owner. It was then discovered that the earlier transaction had been carried out based on a fake WhatsApp profile.

Police suspect the fraudsters exploited the entrepreneur’s frequent travel schedule and the trust placed in staff handling financial transactions. The victim reported the matter through the national cybercrime helpline and filed a formal complaint.

The case is under investigation.