Jaipur has reported a shocking case of cyber fraud where scammers allegedly impersonated the chairman of a mining company on WhatsApp and duped the company of ₹5.30 crore. The fraud highlights a growing trend of digital impersonation attacks, in which criminals exploit trust-based communication to execute large-scale financial scams.
Fake Chairman Profile Set the Trap
According to details, cyber fraudsters used the company’s chairman’s display picture (DP) on WhatsApp to create a convincing fake identity. The accountant of the mining company reportedly believed that he was communicating with his senior authority and ended up transferring huge sums of money in multiple transactions.
Investigators stated that the fraudsters first sent a message requesting the company’s bank account details. Believing it to be an official instruction from the chairman, the accountant shared sensitive financial information without verification.
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Accountant Transfers Crores After WhatsApp Instructions
After gaining trust, the scammers initiated a structured financial transfer plan. In the first phase, ₹1.80 crore was transferred to a specified bank account. Later, an additional ₹3.50 crore was moved to another account. To maintain credibility, the fraudsters even asked for transaction reference numbers (UTRs), leading the accountant to believe the transfers were part of legitimate internal accounting procedures.
The scam escalated further when the fraudsters demanded an additional ₹90 lakh. At this stage, the accountant grew suspicious and contacted the real chairman directly. It was then discovered that no such instructions had been issued by the chairman, revealing that the entire communication was a sophisticated impersonation fraud.
Disappearing Messages Raise Evidence Concerns
Cyber experts believe the attackers executed the scam in a highly organized manner, possibly after collecting internal company information in advance. The use of personal identity photos, internal financial knowledge, and timed messaging suggests pre-planned social engineering techniques rather than random fraud attempts.
One of the most concerning aspects of the case is the use of WhatsApp’s “disappearing messages” feature. According to the victim, several chat records were automatically deleted during the conversation. Investigators suspect that this feature may have been deliberately enabled by the scammers to erase digital evidence and reduce traceability.
Cybersecurity analysts note that impersonation fraud, also known as CEO fraud or executive impersonation scam, is becoming increasingly common in corporate environments. In such cases, attackers pose as top executives and pressure lower-level employees into urgent fund transfers without proper verification.
Experts warn that these scams rely heavily on psychological manipulation, urgency, and authority bias. Employees often hesitate to question instructions that appear to come from senior leadership, especially when the communication includes familiar profile pictures and company context.
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The incident has raised serious concerns about internal financial controls and the security of digital communication in corporate systems. Experts suggest that businesses must implement multi-layer approval systems for high-value transactions and strictly verify financial instructions through secondary channels such as direct calls or official emails.
Cybersecurity professionals also emphasize the importance of employee awareness training. Even simple verification steps, such as confirming instructions through a known contact number, can prevent large-scale financial losses.
Authorities have urged organizations to strengthen WhatsApp security settings, restrict access to financial communication groups, and avoid relying solely on messaging apps for official monetary approvals.
The Jaipur case adds to a growing list of impersonation-based cyber frauds reported across India, where scammers are increasingly using social media profiles, fake identities, and digital manipulation techniques to target businesses.
Investigations are ongoing to trace the bank accounts involved and identify the individuals behind the fraud network. Officials believe the money may have been quickly routed through multiple accounts to avoid detection.
