Hyderabad WhatsApp fraud: Fake MD dupes firm of ₹4 crore
HYDERABAD: Fraudsters posing as the managing director (MD) of a Hyderabad-based real estate company on WhatsApp allegedly tricked a senior company executive into transferring ₹4.7 crore to two bank accounts.
According to a complaint filed with the Telangana Cyber Security Bureau (TGCSB), the company’s assistant general manager received a WhatsApp message on June 30 from an unknown number. The number displayed the managing director’s name and profile photograph, making it appear genuine.
Trusting the message, the executive shared the bank balance details of two company entities after the sender requested the information.
The fraudster then instructed him to transfer ₹1.8 crore to the bank account of a private construction company. After completing the company’s internal banking procedures, the executive processed the payment.
Second transfer exposed the fraud
On July 1, the fraudster contacted the executive again through the same WhatsApp number. This time, the sender directed him to transfer ₹2.9 crore to the bank account of a technology company.
The executive completed the second transaction after obtaining the required banking and email approvals.
The scam came to light only when the company’s chief financial officer (CFO) asked the executive to confirm the transactions with the managing director.
The managing director denied sending any such instructions.
“Immediately, I checked the WhatsApp messages and realised they had come from an unknown number displaying the name and photograph of our MD. By then, the messages had already been deleted from the chat,” the complainant told police.
TGCSB traces money trail
Following the complaint, the Telangana Cyber Security Bureau registered a case on July 2 under Section 66D of the Information Technology Act and Sections 318(4) (cheating and dishonestly inducing delivery of property) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita.
Investigators are now analysing bank transactions and WhatsApp records to trace the money trail and identify those behind the fraud.
