WhatsApp Message From ‘MD’? How Hyderabad Firm Was Tricked into Sending ₹1.95 Crore

Hyderabad: In a major cybercrime attempt, fraudsters impersonated the Managing Director (MD) of a Hyderabad-based firm and tricked the company’s accounts officer into transferring ₹1.95 crore. The fraudulent request, sent via WhatsApp, appeared to be from the MD’s account and even displayed his profile picture, making it seem legitimate.

Fortunately, the Telangana Cyber Security Bureau acted swiftly and successfully recovered the entire amount before the criminals could withdraw it.

How the Cyber Fraud Unfolded

Earlier today, the company’s accounts officer received a WhatsApp message that seemed to be from the firm’s MD, instructing them to transfer ₹1.95 crore as an advance payment for a new project. Trusting the request, the officer completed the transaction at 1:02 PM.

Also Read: WhatsApp’s New Feature Will Let You Dodge Unwanted Video Calls – Here’s How

Shortly after, the real MD received a bank notification and, sensing something amiss, immediately contacted the accounts officer. Upon learning of the transfer, the MD confirmed that he had not sent any such request. Realizing they had been duped, the company promptly filed a complaint on the National Cybercrime Reporting Portal (NCRP).

Swift Action by Cybercrime Authorities

Following the complaint, the NCRP and Telangana Cyber Security Bureau acted quickly to trace the transaction and recover the money. Though some initial details were missing, the authorities worked closely with the company, the MD, and bank officials to track the funds. Fortunately, the criminals had not withdrawn the money, enabling a full recovery.

Rising Cases of Cyber Fraud in Hyderabad

This incident is part of a growing trend of cyber fraud in Hyderabad. Just last week, fraudsters tricked a woman into investing ₹1 crore in fake stock market schemes through mobile apps. Similarly, earlier this month, social media influencer Akanksha Thakral lost ₹1.1 lakh after receiving a fraudulent call from someone pretending to be an Axis Bank officer.

Nationwide, cybercrime is on the rise. The Union Home Ministry’s Cyber Crime Coordination Centre (I4C) reported that nearly 60,000 WhatsApp accounts linked to fraudulent activities were blocked last year. Over 9.94 lakh complaints were filed through the Citizen Financial Cyber Fraud Reporting and Management System, leading to the recovery of ₹3,431 crore.

Authorities Issue Public Advisory

To prevent such cyber frauds, Telangana authorities have issued the following safety guidelines:

• Verify Payment Requests: Always confirm financial requests through official channels before transferring money.
• Beware of Fake Communications: Be cautious of WhatsApp, email, or phone requests for money, even if they appear to be from senior executives.
• Report Suspected Frauds Immediately: Contact the 1930 cybercrime helpline or file complaints on www.cybercrime.gov.in for a higher chance of fund recovery.

With cybercriminals becoming more sophisticated, authorities urge businesses and individuals to stay vigilant and verify financial transactions before proceeding.