BENGALURU: A word of advice for CFOs (Chief Financial Officers) and CAOs (Chief Accounts Officers) in corporate organizations: Avoid authorizing fund transfers based solely on WhatsApp instructions from your boss! It's important to verify through a phone call or in person.
Neglecting this precaution led to a loss of Rs 56 lakh for a tech company in the central business district. Online fraudsters impersonated the managing director (MD) by faking his WhatsApp credentials, deceiving the company's CAO.
