Panchkula. Cybercriminals allegedly hacked a construction company owner’s WhatsApp and impersonated him while messaging the company’s accountant, ultimately getting ₹3.16 crore transferred from company accounts in three transactions.
The Cyber Crime Police Station in Sector 20 has arrested two suspects in connection with the case. Investigators have found that the defrauded money reached bank accounts linked to the accused and are now tracing the subsequent movement of the funds and the involvement of other members of the network.
The arrested suspects have been identified as Punnapuneddy, a resident of Hyderabad, and Nagireddy, a resident of Andhra Pradesh. According to investigators, company funds were transferred into bank accounts associated with the two suspects. Police are questioning them to determine where the money was subsequently transferred and who else may have been involved in the operation.
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ZIP File Allegedly Opened the Digital Gateway
According to the complaint, the construction company has a branch office in Swastik Vihar, MDC Sector 5. On August 6, a ZIP file was sent to the accountant through WhatsApp. The accountant allegedly downloaded the file, after which the cybercriminals gained access to the laptop and WhatsApp account.
The following day, the fraudsters allegedly used another mobile number and posed as the company owner while communicating with the accountant. Through the messages, they sought information about the funds available in the company’s bank accounts and then instructed the accountant to transfer money to different accounts.
Because the messages appeared to have been sent on behalf of the company owner, the accountant allegedly trusted the instructions and proceeded with the transactions.
Entire Amount Transferred in Three Transactions
According to the complaint, the accountant first transferred more than ₹1 crore from the company account. This was followed by another transfer of around ₹1 crore and a third transfer of ₹1.06 crore to different bank accounts. In total, ₹3.16 crore was allegedly transferred out of the company’s accounts in three transactions.
During this period, the actual company owner contacted the accountant and denied giving any instructions for the transactions. The accountant then realised that the messages were fraudulent and that the company had been targeted by cybercriminals. The matter was subsequently reported to the police, which began examining the banking transactions.
Bank Trail Led Police to the Suspects
Investigators examined the bank accounts into which the defrauded funds had been transferred and traced the account holders through the financial trail. This investigation led police to the two arrested suspects.
Police are now questioning them to determine where the money was moved after reaching their accounts and whether the accounts were being used in exchange for commissions. Investigators are also examining additional bank accounts and financial transactions to identify other individuals connected to the suspected network.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said such frauds often combine technical compromise with social engineering. Once criminals gain access to an employee’s system or messaging account, they can impersonate a senior executive or company owner and create a sense of urgency around financial transactions. For high-value transfers, employees should independently verify instructions through a separate communication channel rather than relying solely on WhatsApp messages.
Major Security Lesson for Companies
The incident highlights the risks businesses face when digital access and financial controls are compromised simultaneously. Employees should avoid downloading ZIP files, documents or links received from unknown or unverified sources. Companies should also implement multiple levels of approval and independent verification for high-value financial transactions.
Police are continuing to question the arrested suspects in an effort to identify the alleged masterminds and other members of the cybercrime network. Investigators are also tracing the financial trail to identify additional bank accounts and pursue recovery of the defrauded funds.
