Pune Firm Loses ₹1.9 Crore in CEO Fraud - Beware of Whale Phishing Scams!

A Pune-based consultancy firm lost ₹1.9 crore in a whale phishing attack, where scammers pretended to be the company’s director and tricked an accounts manager into transferring funds.

  • Whale phishing attack – Cybercriminals targeted a senior employee via WhatsApp, posing as the company’s director.
  • Fake project scam – The attacker claimed a large fund transfer was needed for a new project.
  • Instant money transfer – Trusting the fake message, the accounts manager transferred ₹1.9 crore to a fraudulent account in Rajasthan.
  • Further demands raised suspicion – The criminals later asked for another ₹3 crore and suggested liquidating company fixed deposits.
  • Investigation launched – The fraud was detected when the accounts manager verified with the real director, leading to a police complaint.

Whale phishing, also known as a CEO scam, is a cyber fraud targeting high-ranking executives or key financial employees. Unlike mass phishing emails, this attack is highly personalized and convincing, making it easier to manipulate victims.

Whale phishing scams are on the rise, targeting businesses with deceptive tactics. Cybercriminals use social engineering to manipulate employees into transferring huge amounts of money. Awareness and verification are the best defenses against such attacks. Stay alert, stay secure!

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