Mumbai Employee Loses ₹1.98 Crore in ‘Boss Scam’ After Fraudsters Impersonate Company Director on WhatsApp

Mumbai: A new and increasingly sophisticated cyber fraud has come to light in Mumbai, where an employee of a private company was allegedly tricked into transferring a staggering ₹1.98 crore after scammers impersonated the company’s director on WhatsApp.

The fraudsters reportedly used the director’s name and profile photograph to make their messages appear genuine. Posing as the senior company official, they allegedly contacted a general manager through an unfamiliar mobile number and claimed that an urgent payment had to be made.

Believing that the instructions had come directly from his company’s director, the employee followed the directions and transferred ₹1.98 crore to the bank account provided by the scammers.

The fraud came to light only after the transaction had already been completed.

Fraudsters Used Director’s Name and Photograph

According to the complaint, the employee received WhatsApp messages from a number that he did not recognise. However, the account carried the name and photograph of the company’s director, making it appear authentic.

The sender allegedly told the employee that an urgent financial transaction needed to be completed immediately. There was reportedly pressure to act quickly, a common tactic used in such scams to prevent victims from verifying the request.

Since the message appeared to come from a senior official within the company, the employee trusted the instructions and transferred the money without independently confirming them.

It was only after the payment was made that the employee contacted the real director using his known mobile number.

That conversation exposed the fraud.

The director reportedly confirmed that he had not sent any WhatsApp message asking the employee to make the payment and had not authorised the transaction. The employee then realised that scammers had misused the director’s identity, name and photograph to carry out the fraud.

Employee Immediately Approaches Cyber Police

Once the fraud was discovered, the victim promptly contacted the Mumbai Police cyber helpline, 1930, and approached the Cyber Police Station in the South Division.

The quick reporting of the incident proved crucial. Police immediately began tracking the money trail and took steps to prevent the transferred funds from being withdrawn or moved further through the banking system.

Their efforts resulted in the securing of ₹1,83,03,492.

This means authorities were able to secure roughly 92 per cent of the ₹1.98 crore allegedly transferred in the scam.

The case highlights how quickly victims need to report cyber financial fraud. Even a short delay can give fraudsters time to move money through multiple bank accounts, making recovery considerably more difficult.

What Is a ‘Boss Scam’?

The Mumbai incident is an example of what is commonly described as a ‘boss scam’ or executive impersonation scam.

In this type of fraud, criminals pretend to be a company director, senior manager, employer or another authority figure. They often use the person’s real name and photograph on messaging platforms to make the account look legitimate.

The victim may then receive a message claiming that an urgent payment, transfer or other financial action is required.

The scam works largely because of the authority associated with the impersonated person. Employees may hesitate to question instructions that appear to come directly from their boss, particularly when the message stresses that the matter is urgent or confidential.

Mumbai Police Issues Warning

Mumbai Police has urged employees and members of the public to be extremely careful when receiving financial instructions through WhatsApp, Telegram or other messaging and social media platforms.

Police have advised people not to assume that a profile is genuine simply because it carries a familiar name or photograph.

If a message comes from a new or unfamiliar number and asks for an urgent transfer of money, the request should be independently verified. Employees should contact the concerned senior official directly using an existing or officially known phone number rather than replying to the new number.

Even if the sender appears to know details about the company or the employee, the request should be verified before any money is transferred.

Why Immediate Reporting Matters

Cyber fraud cases involving large financial transactions can become difficult to recover if the money is quickly transferred between multiple accounts.

In this case, the employee’s decision to report the fraud soon after discovering it helped police trace the transaction and secure a substantial portion of the money.

Authorities have repeatedly advised victims of online financial fraud to contact 1930, the national cyber fraud helpline, as soon as they realise that they have been cheated. Complaints can also be submitted through the National Cyber Crime Reporting Portal.

The Mumbai case serves as an important warning for companies and employees alike. A WhatsApp profile picture, familiar name or message from someone claiming to be a senior executive should never be treated as sufficient proof of identity—especially when the request involves a large financial transaction.

Before transferring money, employees should pause, verify the sender through an independent channel and confirm the payment instructions directly with the concerned official.

In an age when digital identities can be copied within minutes, a simple verification call could prevent a company or individual from losing crores of rupees.

News source: Information for this article was gathered from a variety of reliable news outlets.