Indian WhatsApp CEO‑Impersonation Scam Cost Companies Over €450,000

Criminal groups in India used cloned WhatsApp profiles of senior executives to trick employees of companies and banks into wire transfers, stealing more than €450,000 in recent days. The fraudsters copied profile pictures, blocked the real executives’ phone numbers and replaced them with their own, creating a seemingly trusted chat environment.

In Hyderabad, an employee transferred 25 lakh rupees (≈ €28,000) after a fake director’s profile was used. In Bangalore, a bank manager was duped into moving about €20,000 to two accounts after a fraudulent voice call claimed a large investment. A government employee in Hyderabad lost roughly €250,000 in a related “Pig‑butchering” investment trap that used WhatsApp groups to lure victims.

Police have identified three suspects and are pursuing charges under India’s IT Act and criminal code. The scheme is part of a global fraud network; the U.S. Justice Department recently seized $15 billion worth of Bitcoin linked to similar operations. Experts estimate total losses in East and Southeast Asia at about $75 billion since 2020 and stress the need for multi‑factor authentication, AI‑driven monitoring and stricter internal controls to prevent such attacks.