Hyderabad Accountant Falls Victim to Rs 2.4 Crore WhatsApp Impersonation Scam
In a shocking cyber fraud incident, an accountant employed by two investment and real-estate firms based in Jubilee Hills, Hyderabad, was deceived into transferring more than Rs 2.4 crore to various bank accounts. The fraudsters impersonated the promoter of both companies through WhatsApp messages, leading to significant financial losses.
Police Register Cases After Financial Year Reconciliation Reveals Fraud
Based on complaints filed by representatives of the two companies, the Hyderabad cybercrime police registered two separate cases on Wednesday. The complainants disclosed that they only became aware of the fraud during the reconciliation of account books for the 2025-26 financial year, highlighting a delayed detection that exacerbated the impact.
The accountant, identified as Rakesh, received messages in September 2025 from a phone number, 95***78***, which he mistakenly believed belonged to the promoter of both firms. Acting on the instructions provided in these messages, he initiated four Real Time Gross Settlement (RTGS) transfers from one of the company's bank accounts.
Details of the Fraudulent Transactions
The fraudulent transfers occurred over three days in September 2025:
- On September 9 and 10, in three separate transactions, Rakesh transferred Rs 1.71 crore to two bank accounts of different private companies. These accounts were opened in Kukatpally, Hyderabad, and Bhubaneshwar, Odisha.
- On September 11, he transferred Rs 74 lakh in four transactions to two bank accounts of private firms located in Mathura, Uttar Pradesh, and Kolkata, West Bengal.
When the complainants investigated with managers at two of the recipient banks, they discovered that the funds had been swiftly moved to hundreds of other bank accounts within hours of receipt. This rapid dispersal complicated recovery efforts and suggested a sophisticated laundering operation.
Allegations of Bank Collusion and Legal Action
Both complainants have alleged collusion by bank officials, raising concerns about internal security breaches. In response, the cybercrime police of Hyderabad have taken legal action by registering two separate cases.
The cases have been filed under Sections 66-C and 66-D of the Information Technology Act, along with Sections 318(4) for cheating and dishonestly inducing delivery of property, and 319(2) for cheating by personation under the Bharatiya Nyaya Sanhita (BNS). These charges target unknown offenders, and investigations are ongoing to identify and apprehend the perpetrators.
This incident underscores the growing threat of digital impersonation scams targeting corporate finances. It serves as a stark reminder for businesses to enhance verification protocols and cybersecurity measures to prevent such costly frauds in the future.
