Cyber fraud: Scammer poses as director, tricks firm out of Rs 1.3 crore

Believing a WhatsApp message to be from the managing director, the chief accountant authorised the transfer only to discover the fraud later

A private consultancy services company fell victim to cyber fraud and lost Rs 1.30 crore. The chief accountant received a message from an unknown number pretending to be the company’s director. Trusting the message to be from the managing director, he transferred the funds. Unfortunately, the fraud was uncovered only after the money had been shifted to another account.

According to the FIR filed with the Navi Mumbai Cyber Cell, the Chief Accountant Finance Officer (CAFO) could not hear anything during the call, so he disconnected it. Shortly afterwards, he received a message that read, “I am Tanvi Auti. My network signal is poor right now. This is my WhatsApp work number, kindly save it.”

The FIR states that Tanvi Auti is the managing director of the consultancy company. The CAFO reviewed the WhatsApp profile picture and believed the number to belong to her.

The FIR further details that the unknown person, impersonating the managing director, then asked the CAFO if he was in the office and could handle a task. The CAFO confirmed he was in the office. The impersonator, pretending to be in a meeting with officers, instructed the CAFO to check the company’s account balance and report back. The CAFO took a screenshot of the company’s current account, which showed a balance of over Rs 1.48 crore.

The impersonator, continuing to pose as the managing director, provided an account number and asked the CAFO to transfer Rs 1.30 crore as an advance payment for a contract secured with the help of officials. The scammer also requested an additional R2 crore as an advance payment, promising it would be returned in a few days.

Case has been registered

On enquiring how such a large sum was transferred in one transaction a police officer of the Navi Mumbai Cyber Cell said, “The amount was transferred via an online transaction on the evening of December 1 from the corporate account to a current account of the fraudster.  The following day, on December 2, the Chief Administrative and Financial Officer (CAFO) informed his Managing Director, only to realise that he had been duped. By the time they approached the police, 24 hours had already passed.”

“We have registered the case under various sections of the IPC and IT Act and are investigating further to trace the money trail,” said Gajanand Kamble, Senior Police Inspector, Navi Mumbai Cyber Police.

What is identity theft?

Hackers often take control of accounts, spreading alarming content on users’ timelines and causing panic. In some cases, scammers create fake accounts using real identities and photos to deceive the victims’ friends and solicit money from them. In several instances, fake accounts of IPS officers have also been created, where scammers impersonate them to solicit money from people. A fake account of the police commissioner too was created for such fraudulent activities. In corporate scams, fraudsters often create email IDs with minor alterations to defraud companies. They also use photos of company owners and directors to connect with employees to carry out scams.

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