Kochi pharma company defrauded of ₹99 lakh in CEO impersonation scam

A pharmaceutical company based in Kochi reported a loss of ₹99 lakh after falling prey to an impersonation fraud involving the company's chief executive officer, according to a first information report filed with local police. The sophisticated scam unfolded when unknown individuals gained unauthorized access to a mobile phone used by the company's accounts department.

Investigators learned that the fraudsters hacked the device and proceeded to create a WhatsApp contact impersonating the CEO. The perpetrators allegedly saved a phone number under the CEO's name and used his WhatsApp display picture to enhance the authenticity of the fake account, effectively creating a convincing digital impersonation.

Utilizing this fabricated identity, the accused contacted members of the accounts department and issued fraudulent instructions for fund transfers. Believing they were communicating with their actual CEO, company officials processed the unauthorized transactions, resulting in substantial financial losses.

The case has been registered and police are conducting a detailed investigation into the breach. Authorities are examining how the initial device compromise occurred and tracing the movement of diverted funds. The incident highlights growing vulnerabilities in corporate digital security and the sophisticated methods employed by cybercriminals targeting businesses through social engineering tactics.