Hyderabad: The Telangana Cyber Security Bureau (TGCSB) successfully averted a Rs 1.95 crore cyber fraud on March 14 by swiftly intervening before fraudsters could withdraw the funds, officials confirmed.
How the Fraud Unfolded
On March 13, an accounts officer of a Hyderabad-based company received a WhatsApp message from an unknown number displaying the Chairman and Managing Director’s (CMD) profile picture. The sender, impersonating the CMD, claimed the message was related to a new project and urgently requested an advance payment of Rs 1.95 crore to a specific bank account.
Believing the request to be genuine, the officer authorized the transaction at 1:02 PM. However, the real CMD received a bank notification about the transfer and immediately contacted the officer. Upon realizing the request was fraudulent, the company swiftly lodged a complaint through the National Cybercrime Reporting Portal (NCRP).
Swift Action by TGCSB
By 2:51 PM, the TGCSB was alerted and immediately contacted the complainant, collected transaction details and chat screenshots, and coordinated with the bank. Thanks to their quick intervention, the entire amount was secured before the fraudsters could withdraw it.
Cybersecurity Advisory
Following the incident, TGCSB Director Shikha Goel urged individuals and businesses to verify financial requests via official communication channels and report suspicious transactions immediately.
Report Cyber Frauds:
Dial 1930 Cyber Helpline
Visit www.cybercrime.gov.in
Growing Cyber Threats & Precautionary Measures
This case highlights the rising sophistication of cybercriminals who impersonate high-ranking executives to deceive corporate employees. Businesses must implement strict verification protocols and educate employees on identifying cyber threats to prevent financial fraud.
 prevented a Rs 1.95 crore cyber fraud in Hyderabad, saving a company from financial loss. Learn how they acted swiftly to secure the funds.){kind=link}