Mumbai Corporate Manager Duped of Rs 10.40 Crore in WhatsApp Boss Scam
A deputy general manager of a corporate firm in Mumbai was defrauded of Rs 10.40 crore after cybercriminals impersonated his executive director in a "Boss Scam" between June 3 and June 15. The Mumbai South Region cyber police registered an FIR and have arrested multiple suspects in connection with the multi-crore fraud.
The victim, Girish Amin, received a WhatsApp message on June 3 from an unknown number displaying the profile picture of his company’s executive director, Sidharth Jain. The sender instructed Amin to save the number as a "very personal number" and stated that he was heading into a meeting, warning Amin not to call him.
Believing the instructions were authentic, Amin processed an initial transfer of Rs 46.50 lakh from the company's bank account. Over the next two weeks, Amin continued to follow the WhatsApp instructions, executing a total of 63 unauthorized transactions amounting to Rs 10,40,71,924 to multiple beneficiary accounts.
The fraud was discovered on June 16 when Amin contacted the real Sidharth Jain through an official channel to request invoices for accounting purposes, only to find out that Jain had never sent the messages.
The investigation unfolded when a banker at an IDFC FIRST Bank branch in Jasola, Delhi, grew suspicious of two 22-year-old men, Vikas Bind and Vansh Manocha, who attempted to withdraw Rs 8 lakh in cash shortly after it was credited. The banker alerted the Delhi Police, who apprehended the duo. During questioning, they admitted to renting out their bank accounts to route illicit funds.
Another handler, 22-year-old Faiyaz Alam, was arrested shortly after. Investigators traced the funds in their accounts back to the victim's corporate account in Mumbai. The Delhi Police then alerted the Mumbai South Region cyber police, who took custody of the three suspects and subsequently arrested three other individuals.
According to the cyber police, a malicious .zip file was found on Amin's phone, which is a common tool used by fraudsters to gain remote access to a target's device. Following the incident, the Indian Cyber Crime Coordination Centre (I4C) issued a national advisory on June 22, warning industries and citizens to remain vigilant against such corporate impersonation scams.
