July 28, 2025

The cybersecurity landscape in India has become increasingly perilous, with recent instances highlighting the threats posed by deep fake identities and digital fraud. A notable case unfolded in Hyderabad, where a Chief Financial Officer (CFO) of an automobile firm fell victim to a sophisticated WhatsApp scam, losing Rs 1.94 crore after being misled by someone impersonating the company’s managing director (MD). According to reports from the Times of India, the two suspects arrested by the Hyderabad Cyber Crime Police are Ajay Sahu, also known as Ajju, a 20-year-old from Madhya Pradesh, and Vaishna, a 26-year-old from Uttar Pradesh. These individuals were captured in Gwalior and Agra and brought to Hyderabad, where mobile phones used in the heist were confiscated. This incident took place after the CFO received a WhatsApp message from an unidentified number which displayed the real MD's photo. Believing it was a legitimate communication from his superior, the CFO engaged in a conversation with the impersonator. The fraudster, claiming that urgent funds were required for a project, provided a bank account number, instructing the CFO to transfer the amount of Rs 1.94 crore immediately. Trusting the request's authenticity and believing he was acting on behalf of his boss, the CFO completed the transfer on July 8. It was only after reaching out to the actual MD by phone that he realized the scam had occurred. Upon realizing the deceit, a complaint was quickly lodged through the National Cybercrime Reporting Portal. Consequently, a case was initiated at the Cyber Crime police department on July 9 under various sections of the IT Act. The investigation that followed revealed a broader network of fraudulent activities. The arrested men were found to be involved in a racket that entailed the sale of current bank accounts for commission. They and their accomplices would select pictures of MDs and CEOs from the internet, create WhatsApp profiles pretending to be these executives, and subsequently target employees within the companies they infiltrated. The financial aspect of the scheme was further complicated as the funds obtained through the scam were funneled through more than 60 different bank accounts. Thanks to the swift actions of the CFO and the prompt response from the police, a significant portion of the funds was recovered. Rs 84 lakh was successfully returned to the company’s bank account, with an additional Rs 15 lakh being frozen in other accounts as investigations continued. In response to this growing trend of digital fraud, Hyderabad Police have issued a public advisory. They emphasized the importance of verifying monetary requests, even when they appear to come from recognized authorities. The police recommend confirming such requests through a voice call or in person to thwart potential scams. Individuals who believe they have fallen victim to online fraud are encouraged to report the incident immediately. A dedicated helpline is available 24/7 at 1930, and victims can also report their issues at www.cybercrime.gov.in. The case underscores the critical need for heightened awareness regarding online communications, with emphasis on skepticism over financial transactions initiated through digital platforms, even when they seem to be legitimate.

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Tags: Cfo, Hyderabad, Scam, Whatsapp, Cyber crime,