Mumbai Firm Loses ₹1.98 Crore In WhatsApp Scam

A private company in Mumbai has fallen victim to a sophisticated WhatsApp impersonation scam, resulting in a loss of ₹1.98 crore. The scam occurred when fraudsters posed as the company's director and instructed the General Manager of Accounts and Banking Administrator to make an urgent fund transfer.

The 48-year-old General Manager, a resident of Kurla (West), has been working at Oriental Foundry Pvt. Ltd. for 28 years. He is responsible for managing the company's banking transactions and reports directly to the company's director, Saleh N. Mithiborwala.

On August 4, the General Manager received a WhatsApp message from a mobile number claiming to be the director's new contact number. The message included the director's photograph, which led the General Manager to believe it was genuine. The next day, the same number sent another message claiming that an urgent client payment of ₹1.98 crore needed to be processed immediately.

Believing the instructions to be genuine, the General Manager transferred ₹1.98 crore from the company's ICICI Bank current account to the beneficiary account. However, shortly afterwards, the real director contacted him over the phone and enquired about the debit transaction, following which the General Manager realised he had been deceived.

The General Manager immediately lodged a complaint with the National Cyber Crime Helpline, which was registered, and submitted the complete WhatsApp conversation to the police as evidence. He sought legal action against the user of the mobile number and the holder of the beneficiary bank account that received the fraudulently transferred amount.

This incident highlights the increasing risk of cyber fraud in Mumbai, particularly through social media platforms like WhatsApp. It is essential for individuals and companies to be vigilant and verify the authenticity of messages and instructions before taking any action.

The Mumbai police have registered an FIR and are investigating the matter. The incident serves as a reminder for companies to implement robust security measures to prevent such scams and to educate their employees on the risks of cyber fraud.

The use of WhatsApp impersonation scams is becoming increasingly common, and individuals and companies must be cautious when receiving messages or instructions from unknown numbers or sources. It is crucial to verify the authenticity of messages and to report any suspicious activity to the authorities immediately.

In recent times, there have been several instances of cyber fraud in Mumbai, resulting in significant financial losses. The authorities are taking steps to combat these crimes, but it is essential for individuals and companies to be proactive in preventing such incidents.

The incident is a reminder of the importance of cybersecurity and the need for individuals and companies to be aware of the risks associated with social media platforms and online transactions. By taking necessary precautions and being vigilant, individuals and companies can reduce the risk of falling victim to cyber fraud.

In conclusion, the WhatsApp impersonation scam that resulted in a loss of ₹1.98 crore for a Mumbai company is a significant incident that highlights the risks of cyber fraud. It is essential for individuals and companies to be aware of these risks and to take necessary precautions to prevent such incidents.