Panaji. Two men from Pune have been arrested for allegedly defrauding a company of ₹2 crore by impersonating its chief executive officer and using his name and profile photograph on WhatsApp. The accused allegedly contacted the company’s accountant and instructed him to transfer the money to multiple bank accounts through RTGS. Acting swiftly on the complaint, cybercrime police arrested the two suspects within 48 hours of registering the case.
According to investigators, the accused used the CEO’s identity and WhatsApp profile photograph to establish contact with the accountant. The messages were allegedly framed in a manner that made it appear that the instructions to transfer the money had come directly from a senior company executive. Trusting the communication, the accountant reportedly transferred ₹2 crore through RTGS to several bank accounts.
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After receiving the complaint, cybercrime investigators immediately began examining the beneficiary accounts and the transactions linked to the fraud. The banking records and movement of funds were analysed to identify the people operating the accounts and establish the trail of the money.
The investigation eventually led police to Pune. A team was sent to the city after the money trail indicated the involvement of suspects there. Deepak Maske and Shyam Kasar, both residents of Pune, were apprehended in the area around Pune International Airport at Lohegaon.
The two accused were subsequently brought to Goa and produced before a court. Further investigation is underway to trace the complete movement of the ₹2 crore, determine the role of the beneficiary accounts and identify other people who may have been involved in the alleged cyber fraud network.
Investigators are also examining whether the suspects were working with others who arranged bank accounts, received the fraud proceeds or moved the money through additional accounts. Such networks often involve multiple layers between the person who impersonates an official and those who ultimately withdraw or transfer the money. Police are therefore examining the transaction history of the accounts associated with the case.
The case highlights a growing cyber fraud technique in which criminals impersonate senior company officials and manipulate employees into authorising financial transactions. Using a genuine photograph of an executive on a messaging application can make the communication appear credible and increase the chances of the victim following the instructions.
Fraudsters may create a sense of urgency by claiming that an immediate payment is required or that the transaction is confidential. Employees can be particularly vulnerable when the request appears to come from a senior authority and involves routine business terminology or instructions that seem legitimate.
Businesses have been advised to introduce independent verification procedures for large-value transactions. Employees should not rely solely on a WhatsApp profile, display photograph or message when receiving instructions to transfer substantial amounts of money. Any unusual or urgent payment request should be verified through an established communication channel or by directly contacting the concerned executive.
Authorities have also advised the public and businesses to report suspected cyber fraud immediately. Prompt reporting can help investigators trace the flow of funds and take steps to prevent the money from being moved further through the financial system.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
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