Tuesday, Mar 25 2025 | Time 22:40 Hrs(IST)
States » SouthPosted at: Mar 24 2025 2:24AM


Cybercriminals impersonating corporate leaders to defraud companies: TGCSB issues advisory

Hyderabad, Mar 23 (UNI) The Telangana Cyber Security Bureau (TGCSB) has issued a public advisory warning corporate offices and IT companies across the state about a surge in cyber fraud involving impersonation scams targeting accounts and finance personnel.
Cybercriminals are posing as senior executives, including company CMDs and CEOs, using WhatsApp, email, and SMS to deceive employees—particularly accounts officers—into urgently transferring large sums of money. These fraudsters exploit familiarity by using profile pictures, names, and writing styles that closely resemble those of company leadership, increasing the likelihood of deception.
In a recent case, a company’s accounts officer received a WhatsApp message from an unknown number displaying the CMD’s profile picture. The message, purportedly from the CMD, asked the officer to save a new number.
Shortly after, the officer received instructions to transfer funds for an "urgent project." Believing the request to be genuine, the officer transferred a significant amount, only to later realize the request was fraudulent.
Similar scams have been executed through phishing emails sent from fake or look-alike addresses, claiming changes in the company’s bank account details and requesting transaction rerouting. These fraudulent messages often create a sense of urgency, pressuring employees to act quickly without verification.
TGCSB has raised concerns about the increasing sophistication of these cybercrimes, which specifically target corporate finance teams. The use of stolen or scraped employee contact details allows fraudsters to manipulate trust and bypass security measures. Given the scale of the threat, the bureau has urged businesses to strengthen internal controls and verification protocols.
To prevent financial fraud, employees are advised not to act on financial instructions received solely through digital channels without voice confirmation. All high-value transactions should be verified directly with reporting authorities via official phone calls. Companies must also sensitize departments, particularly Accounts, Finance, HR, and Administration, about this modus operandi and encourage immediate reporting of suspicious communication. Any suspected fraud should be reported to 1930 or via www.cybercrime.gov.in.
TGCSB emphasises that robust internal controls, multi-level transaction approvals, and heightened awareness are essential in combating these scams. Vigilance and timely reporting remain the strongest tools in preventing financial losses due to cyber fraud, a police statement said on Sunday night. UNI VV SSP
Tags: #Cybercriminals impersonating corporate leaders to defraud companies: TGCSB issues advisory
More News

Backward Districts now leading in economic growth: AP CM

25 Mar 2025 | 10:25 PM

Vijayawada, Mar 25 (UNI) Chief Minister N Chandrababu Naidu on Tuesday made insightful observations on the shifting trends in per capita income across districts in Andhra Pradesh.

see more..

F L A S H - 2

25 Mar 2025 | 10:23 PM

UNION MINISTER AMIT SHAH'S TWEET AFTER MEETING TOP AIADMK
LEADERS IN NEW DELHI, HINTS OF ALLIANCE REVIVED.

see more..

F L A S H - 1

25 Mar 2025 | 10:22 PM

HAS BJP-AIADMK ELECTORAL TIES REVIVED FOR 2026 TN POLLS ?
UNI GV 2220.

see more..

AP: CM outlines goals to achieve Swarnandhra Vision 2047

25 Mar 2025 | 10:19 PM

Vijayawada, Mar 25 (UNI) Andhra Pradesh Chief Minister N Chandrababu Naidu emphasised the crucial role of proactive governance and strategic investments in achieving the ambitious Swarnandhra Vision 2047 at the Third Collectors’ Conference, held in Amaravati near here on Tuesday.

see more..

Revamp educational system for all-round development, says Kerala Governor

25 Mar 2025 | 10:12 PM

Thiruvananthapuram, Mar 25 (UNI) All-round development of the people can be achieved only by revamping the educational system, Kerala Governor Rajendra Vishwanath Arlekar said on Tuesday.

see more..