Hyderabad: A Hyderabad-based manufacturing firm lost ₹25 lakh after a cyber fraudster impersonated its Managing Director (MD) on WhatsApp and tricked a senior employee into transferring funds. The scam came to light after the real MD, who was abroad on vacation, denied sending any such messages.
The incident occurred on September 24, when the Manager–Accounts at Prestress Products received a WhatsApp message from an unknown number claiming to be the MD using a new contact. Trusting the claim, the employee responded and shared a screenshot showing available company funds of ₹28 lakh.
Cyber fraud MD impersonation leads to major fund transfer
The impostor then urgently requested an NEFT transfer of ₹25 lakh for a supposed project. Believing the request to be genuine, the employee transferred the funds. When the fraudster later asked for another ₹40 lakh, the company’s General Manager grew suspicious and contacted the real MD in Sri Lanka. It was then confirmed that the messages were fake.
Realizing the deception, the company immediately reported the matter to the Cyber Crime helpline (1930).
Public advisory issued to prevent WhatsApp-based impersonation scams
Company officials have urged media outlets to spread awareness through print and digital platforms. They requested a public advisory cautioning individuals and companies against WhatsApp-based impersonation frauds. Authorities also advised verifying any financial request through direct phone calls before transferring funds.
