Hyderabad firm nearly loses ₹1.95 crore in WhatsApp scam

A Hyderabad-based firm narrowly avoided losing ₹1.95 crore in a high-value cyber fraud after a scammer impersonated the company’s Managing Director (MD) on WhatsApp. The accounts officer, believing the request to be legitimate, transferred the amount as an advance payment for a new project.

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Shortly after the transfer at 1:02 PM, the real MD received a bank notification and immediately contacted his accounts officer. Upon realizing the message was fraudulent, the company swiftly filed a complaint on the National Cybercrime Reporting Portal (NCRP). Telangana Cyber Security Bureau officials quickly intervened, working with the company and bank authorities to track down the funds. Fortunately, the criminals had not withdrawn the amount, allowing investigators to recover the full ₹1.95 crore.

This incident highlights the growing threat of cyber fraud in India. Last week in Hyderabad, fraudsters tricked a woman into transferring ₹1 crore under the guise of stock market investments. Even public figures have been targeted—social media influencer Akanksha Thakral recently lost ₹1.1 lakh after a scammer posed as a bank representative.

In response to rising cyber threats, the national Cyber Crime Coordination Centre (I4C) blocked nearly 60,000 fraudulent WhatsApp accounts last year. Authorities continue to urge individuals and businesses to verify financial requests before making transactions.