New Delhi:
A WhatsApp text from a ‘boss’ cost a private company over Rs 10 crore after an employee from the accounts department followed the ‘instructions’ and made 63 payments. When the employee asked for invoices for the payments, he realised he had been duped and so was his employer. Four people have been arrested in the case involving the Mumbai-based company.
On June 3, a deputy general manager in the company’s accounts branch received a WhatsApp message from an unknown number. The sender identified himself as the company’s executive director. The sender asked him to save it as a “personal number” and not share it with anyone.
The sender had the executive director’s photograph as a display picture, making the official believe he had been contacted by his boss.
The sender told the official he was entering into an urgent meeting and instructed him not to call. He then shared bank account details and directed him to transfer funds from the company’s account.
The first transaction of Rs. 46.5 lakh was made. This was just a fraction of the sum the official was about to transfer in the days to come.
Between June 3 and 15, the employee followed his ‘boss’s’ instructions and executed 63 transactions, transferring over Rs 10.4 crore (10,40,71,924) from the company’s account to various other accounts.
On Tuesday, when the employee contacted the executive director through official channels and asked for invoices related to the transactions for accounting purposes, his boss said he never issued any such instructions. That is when he learned he had been duped.
The company’s official registered a complaint with the police.
As Mumbai police began investigating, the Delhi Police got a tip-off related to the bank accounts that received the said payments. The South-East district police in Delhi received a call from the Jasola branch of IDFC FIRST Bank, informing them that two men had come to withdraw Rs 8 lakh in cash. Acting on the tip-off, the police arrested two men – Vikas and Vansh – at the bank.
During interrogation, the two accused admitted to providing their bank accounts for the circulation of the fraudulent funds in exchange for a commission. They had been promised payments of Rs 30,000 and Rs 20,000 each for this service.
Further investigation into the case took police to two other accused – Faiyaz Alam and Amit. Faiyaz revealed that another accused had promised a two per cent commission in exchange for providing bank accounts to facilitate the transfer of funds.
Under the recently launched “Operation CyHawk”, the Delhi Police had instructed bank officials to report suspicious transactions, including unusual withdrawals. It was this vigilance that alerted the authorities while the two accused were attempting to withdraw funds.
While four arrests have been made, the police are looking for the mastermind behind the network. Investigations are underway to trace the accounts where the defrauded money was transferred and to determine if a major cybercrime gang is operating behind the scheme.
