Cyber Fraud Averted, Hyderabad Company Almost Lost Rs 195 Crore

The Telangana Cyber Security Bureau (TGCSB) successfully stopped a cyber fraud attempt of Rs 1.95 crore on Friday, saving a Hyderabad-based company from a major financial loss.

On March 13, the company’s accounts officer received a WhatsApp message from an unknown number. The message displayed the profile picture of the company's Chairman and Managing Director (CMD). The sender, impersonating the CMD, claimed it was for a new project and requested an advance payment of Rs 1.95 crore to a specified account.

Believing the message was legitimate, the officer transferred the money at 1:02 p.m. on Friday. However, shortly after, the real CMD received a bank notification about the transfer. Upon asking the accounts officer, it was revealed that the transfer had been made based on the WhatsApp message. The CMD confirmed he had not made any such request, realizing the company was targeted by fraudsters.

The company immediately filed a complaint on the National Cybercrime Reporting Portal (NCRP). When NCRP officers investigated, they found that important transaction details were missing, which made it difficult to trace the fraud. The TGCSB received the complaint at 2:51 p.m. on March 13 and acted quickly. They contacted the complainant, gathered vital details, and coordinated with the bank to stop the fraud.

Thanks to the quick action by TGCSB, the entire Rs 1.95 crore was saved before the fraudsters could withdraw the money. TGCSB Director Shikha Goel praised the bureau’s swift intervention.

The TGCSB has warned the public to be cautious of financial requests via WhatsApp, email, or phone calls, even if they appear to come from senior executives. Citizens are advised to verify payment requests through official channels and report suspicious activity through the 1930 Cyber Helpline or www.cybercrime.gov.in.