Fake WhatsApp Boss Scam Costs INOX Over ₹10 Crore

A major cyber fraud has come to light involving Mumbai-based INOX, where fraudsters allegedly duped the company of more than ₹10 crore by impersonating a senior executive through WhatsApp. According to police, Girish Amin, Deputy General Manager in the company’s accounts department, received a message from an unknown number earlier this month. The sender identified himself as Siddharth Jain, Executive Director of the company, and claimed it was his personal number. Since the profile picture matched that of the executive, the employee believed the message to be genuine.

The fraudster instructed the employee to transfer funds to a bank account, citing urgent business requirements. Between June 3 and June 15, the accounts department allegedly made 63 separate transactions amounting to nearly ₹10.4 crore. The scam came to light during an internal audit and account verification process. Following a complaint, Mumbai Police launched an investigation and arrested four individuals based on bank account and transaction records. Authorities suspect the involvement of a larger network and have intensified the probe.