Hyderabad, March 23 (NationPress) The Telangana Cyber Security Bureau (TGCSB) has released a public advisory cautioning corporate offices and IT firms throughout the state about an increasing occurrence of cyber fraud involving impersonation scams that specifically target accounts and finance personnel.

TGCSB Director Shikha Goel stated that cybercriminals are posing as senior executives, including company CMDs and CEOs, through WhatsApp, email, and SMS, aiming to mislead employees, especially accounts officers, into urgently transferring substantial sums of money.

In a recent incident, an accounts officer at a firm received a WhatsApp message from an unidentified number, displaying the CMD’s profile picture. The message pretended to be from the CMD, instructing the officer to save a new number. Shortly thereafter, the officer received a request to transfer funds for an urgent project. Trusting the request was legitimate, the officer transferred a considerable amount, only to discover later that it was a scam, as she reported.

In various other cases, phishing emails have been dispatched from fraudulent or similar-looking addresses, falsely claiming a modification in the company’s bank account and requesting a rerouting of transactions. These scams frequently create a sense of urgency and are crafted to replicate the communication style of the organization's leadership. WhatsApp usernames are also manipulated to show familiar names, enhancing the likelihood of success.

The TGCSB expressed alarm over targeted attacks on corporate finance teams using advanced impersonation techniques, including the possible compromise or scraping of employee contact details, as well as the use of familiar names, images, and writing styles to exploit trust.

It has recommended that companies refrain from acting on financial instructions received solely through digital channels without confirming via voice communication. They are advised to verify all high-value transactions directly with reporting authorities through official phone calls. Additionally, firms are urged to educate all departments, particularly Accounts, Finance, HR, and Admin, regarding this deceptive practice.

Report any suspicious communications immediately to 1930 or through www.cybercrime.gov.in. The TGCSB encourages all corporate entities to establish robust internal controls, multi-level transaction approvals, and verification protocols to avert financial fraud, the Director emphasized.