Kochi drug company loses nearly one crore rupees in WhatsApp CEO fraud

A pharmaceutical firm in Kochi lost ₹99 lakh to an online fraudster who pretended to be the company chief executive officer on WhatsApp.

What Happened

The incident took place on October 16. The First Information Report states that the culprit hacked a mobile phone used by the company accounts team. The fraudster then saved a new number using the exact profile picture of the CEO. Posing as the top executive, the person messaged a female staff member in the accounts department and tricked her into transferring the money to a different bank account.

Investigation

The Kochi City Cyber police have registered a case regarding this fraud. Officers have booked the unknown accused under relevant sections of the Information Technology Act and the Bharatiya Nyaya Sanhita.

Context

Online scams involving fake executive identities on messaging apps have become increasingly common for businesses. Companies often review their internal financial controls and communication protocols to prevent unauthorized fund transfers.