The cyber police of the western region of the Mumbai police have dismantled a sophisticated cyber fraud operation that used WhatsApp impersonation to deceive a senior finance executive into transferring Rs 1.93 crore from a company’s bank account. Police have arrested six people, and investigations have revealed links to cryptocurrency laundering and foreign cyber operatives.

“The victim in this case is the chief finance officer (CFO) of a private company based in Andheri. Between April 12 and April 15, he received messages via WhatsApp from a mobile number displaying the company director’s photo, which established authenticity,” police said.

Pretending to be the director, the accused engaged the CFO in conversation, citing urgent business needs for an upcoming project involving government officials and a private firm. The fraudster then requested a large payment to be made as part of this project. Believing the sender to be a genuine company executive, the CFO initiated a transfer of Rs 1,93,06,000 from the company’s account. The entire communication was conducted through WhatsApp.