Telangana Cyber Security Bureau warns corporate companies of ‘impersonation scamsters’

The advisory was issued after the fraudsters adopting the modus operandi, conned an accounts department executive into transferring huge sum of amounts to an account

Hyderabad: The Telangana Cyber Security Bureau (TGCSB) issued an advisory asking the corporate companies to be on alert about ‘impersonation scamsters’.

The TGCSB said that scamsters are impersonating as senior executives such as CMD’s and CEOs of the companies through WhatsApp, email and SMS and conning the company executive’s particular those working in accounts and finance departments into transferring money to some accounts.

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The advisory was issued after the fraudsters adopting the modus operandi, conned an accounts department executive into transferring huge sum of amounts to an account, said the officials.

The police also warned the companies to be wary of look-alike addresses, claiming a change in the company’s bank accounts and requesting rerouting of money. These scams often create urgency and are designed to mimic communication style of the organisation’s leadership, the police explained.

The TGCSB expressed concerns over cyber fraudsters resorting to targeted attacks on corporate finance teams using sophisticated impersonation, possible compromise or scraping of employee contact details and use of familiar names, photos and writing styles to manipulate.

It asked the executive’s not to act unless voice verification is done and verify all high value transactions directly with reporting authorities through official phone calls.