Mumbai Firm Director Duped of ₹2 Crore in Cyber Fraud After WhatsApp Impersonation Scam
Mumbai : A major cyber fraud case has come to light in Mumbai, where the director of a city-based metal trading company was cheated out of nearly ₹2 crore after scammers impersonated him on WhatsApp. Police have arrested one accused from Ahmedabad in connection with the case and have managed to freeze a substantial portion of the stolen funds.
According to Mumbai Cyber Police, the incident took place between June 21 and June 22 at a business operating in the Lamington Road area of south Mumbai. The company, which deals in metal trading, became the target of a carefully planned digital impersonation scam that exploited internal trust and urgency in financial communication.
Investigators said the fraud began when an employee of the company received a WhatsApp message from an unknown number. What made the message convincing was that the display picture showed the photograph of the company’s director. The sender claimed to be the director himself and told the employee that the number was his personal contact and should be treated as confidential.
After gaining the employee’s trust, the impersonator instructed him to urgently transfer ₹1.99 crore to a bank account belonging to another company. The message created a sense of urgency and authority, leading the employee to believe that the instruction was genuine and part of official business operations.
Without verifying the request through a secondary confirmation channel such as a phone call or in-person approval, the employee proceeded with the transfer. The money was sent as instructed, but it was later discovered that the entire communication was part of a cyber fraud operation designed to divert company funds.
The scam came to light when the real director became aware of the transaction. Realizing that no such instruction had been given, the company immediately reported the matter to the cyber police. A complaint was filed, and the case was registered for investigation.
Cyber police launched a detailed probe into the transaction trail, bank account details, and WhatsApp numbers used in the fraud. During the investigation, officials traced one of the accused involved in the operation and arrested him from Ahmedabad. Authorities are also examining whether more individuals are part of the larger cybercrime network.
In a significant development, police managed to put a hold on nearly half of the defrauded amount, preventing it from being fully withdrawn or moved further through multiple accounts. Efforts are ongoing to recover the remaining money.
Officials have described the case as a classic example of “social engineering fraud,” where criminals manipulate human trust rather than hacking systems directly. They warned that such scams are becoming increasingly common, especially in corporate environments where large financial transactions are routine and often handled under time pressure.
Cyber experts have also cautioned businesses to strengthen their internal verification systems. They recommend mandatory call-back verification, dual approval for large transfers, and strict protocols for any financial instruction received through messaging apps like WhatsApp or email.
Police have appealed to companies and employees to remain alert and not act on urgent financial instructions without proper confirmation. They also confirmed that the investigation is continuing to identify other members of the fraud network and trace the remaining funds.
The case highlights the growing sophistication of cyber fraud in India, where criminals are increasingly using fake identities, cloned profiles, and psychological manipulation to deceive victims and execute high-value scams.
News source: Information for this article was gathered from a variety of reliable news outlets.
