City-based Real Estate Firm Falls Victim to Sophisticated Cyber Fraud
A prominent real estate and trading company in Kanpur became a victim of a sophisticated cyber fraud, where fraudsters used a counterfeit WhatsApp account to dupe the company's director into transferring funds.
Cyber FraudReal EstateKanpurWhatsappFinancial SecurityReal Estate NewsJul 22, 2025
The deception came to light when the director and the managing director coincidentally met in Delhi. A swift action enabled the bank to withhold Rs 1.28 crore, while the incident was reported to the commissioner's Cyber Crime police station. On Sunday, the perpetrator, posing as the managing director on WhatsApp, claimed to be engaged in a crucial meeting and discussed with the director a contract signing that required advance payment. The fraudster provided details of a Kolkata-based pharmaceutical firm, Maa Tara, including bank particulars and IFSC code, requesting a transfer of Rs 1.97 crore with UTR number confirmation. The director, who was in Delhi, processed the transfer but subsequently encountered the managing director, who confirmed no such instructions were issued.
Immediate action was taken by contacting ICICI's Delhi headquarters and the Kanpur branch to halt the transaction. However, Rs 69 lakh were already disbursed across 15 to 16 transactions to various entities. Initially approaching Gurugram Cyber Crime police station, the company was directed to file the case in Kanpur, where the incident occurred. ACP Cyber Crime Shweta Kumari confirmed ongoing investigations into the transactions and WhatsApp account details.
This incident highlights the growing threat of cyber fraud in the real estate and trading sectors. Companies are increasingly becoming targets of sophisticated scams where fraudsters use advanced techniques to mimic trusted communication channels. The use of social media platforms like WhatsApp, where personal and sensitive information is often shared, makes it easier for fraudsters to carry out such scams.
To prevent similar incidents, companies are advised to implement strict verification procedures for any financial transactions and to educate employees about the risks of cyber fraud. Regular training sessions and updates on the latest fraud techniques can help employees stay vigilant and avoid falling victim to such scams. Additionally, companies should consider using multi-factor authentication and secure communication channels to protect sensitive information and financial transactions.
The Kanpur-based real estate and trading company is now working closely with law enforcement agencies to recover the lost funds and bring the perpetrators to justice. The incident serves as a stark reminder of the importance of cybersecurity in today's digital landscape, where the line between physical and digital security is increasingly blurred.
Frequently Asked Questions
What is the nature of the cyber fraud that affected the real estate company in Kanpur?
The fraud involved a counterfeit WhatsApp account created using the managing director's photograph. The fraudster used this account to communicate with the company's director and request a large fund transfer for a fake contract signing.
How much money was involved in the fraud?
The fraudster requested a transfer of Rs 1.97 crore. However, only Rs 69 lakh were disbursed across 15 to 16 transactions before the company and the bank could halt the transaction.
What actions were taken to prevent further loss of funds?
The company and the bank took immediate action by contacting ICICI's Delhi headquarters and the Kanpur branch to halt the transaction. This swift action enabled the bank to withhold Rs 1.28 crore.
Where was the case filed, and who is investigating it?
The case was initially reported to the Gurugram Cyber Crime police station but was later directed to be filed in Kanpur, where the incident occurred. ACP Cyber Crime Shweta Kumari confirmed ongoing investigations into the transactions and WhatsApp account details.
What steps can companies take to prevent such cyber frauds?
Companies can implement strict verification procedures for financial transactions, provide regular training on cyber fraud techniques, use multi-factor authentication, and secure communication channels to protect sensitive information and financial transactions.
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