Rajasthan Police’s State Cyber Crime Branch has uncovered an alleged ₹5.30 crore corporate cyber fraud and arrested a suspect from Pune, Maharashtra, in connection with an interstate cybercrime network. According to investigators, cyber fraudsters allegedly used the WhatsApp profile photo (DP) and name of a reputed company’s chairman to impersonate him, deceive the company’s accountant and induce the transfer of ₹5.30 crore into two separate bank accounts under the pretext of an urgent business payment. Police said the investigation into digital evidence, banking records and financial transactions is continuing, and efforts are underway to identify the entire network.
According to investigators, the complaint was lodged on April 27, 2026, through the National Cyber Crime Helpline (1930) by Deependra Singh, representing Galaxy Mining Private Limited. The complaint alleged that unknown cyber fraudsters created a WhatsApp account using the name and profile photograph of the company’s chairman, Deependra Singh Rathore. The accountant allegedly received messages from the fraudulent account directing him to make an immediate high-value payment and was provided details of two bank accounts. Believing the request to be genuine because it appeared to come from the chairman, the accountant transferred approximately ₹5.30 crore through online banking channels.
Police said the investigation revealed that the fraudsters first collected publicly available information and photographs of the company’s chairman before creating the fake WhatsApp profile. Investigators believe the accused exploited corporate communication practices and social engineering techniques commonly associated with business impersonation fraud, in which criminals assume the identity of senior executives to authorise fraudulent financial transfers.
During the technical investigation, police analysed bank accounts, mobile numbers, digital transactions and electronic records linked to the fraud. Based on the evidence, investigators identified Rahul Ashok, a 32-year-old resident of Pune, Maharashtra. With assistance from Maharashtra Police, Rajasthan Police arrested him and brought him to Jaipur on transit remand.
According to police, the accused allegedly admitted during questioning that he supplied bank accounts to the principal cyber fraudsters in exchange for commissions and facilitated the movement of illicit funds. Investigators stated that although Rahul worked as a daily wage labourer, he allegedly registered a fictitious business using forged documents at the direction of a Pune resident identified as Amit Singh.
Police allege that a current account was opened in the name of the fake firm and that its transaction limit was subsequently increased to ₹50 crore. Investigators believe the same account was used in the alleged ₹5.30 crore cyber fraud committed in March 2026. The investigation further indicates that the accused allegedly helped open three additional bank accounts for the syndicate. Once the fraud proceeds were credited, the money was rapidly transferred through multiple accounts in a layering process allegedly intended to conceal the origin and movement of the funds.
Investigators are also examining whether any bank officials or employees were involved in opening accounts in the names of fictitious firms or in facilitating the approval of the ₹50 crore transaction limit. Police said appropriate legal action will be taken if evidence establishes the involvement of any banking personnel. Authorities are continuing to analyse additional bank accounts, mobile numbers, digital devices and electronic evidence while efforts remain underway to trace and arrest the alleged kingpin, Amit Singh, and other members of the suspected cybercrime network.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said corporate organisations should never authorise high-value financial transactions solely on the basis of WhatsApp messages or profile photographs. He advised businesses to implement independent identity verification, multi-level approval mechanisms, call-back verification procedures and multi-factor authentication before processing significant payments. According to him, social engineering attacks targeting corporate employees are increasing rapidly, and robust verification protocols remain the most effective safeguard.
The investigation is ongoing. Any determination of criminal liability will ultimately depend on the evidence presented before the competent court during the judicial process.
