In this episode, we deep-dive into a real banking fraud case involving WhatsApp impersonation, cheque misuse, and unauthorized RTGS transfers that resulted in a loss of ₹1.3 Crores from a corporate account.

A fraudster impersonated a legitimate partner of a firm and manipulated branch officials through WhatsApp calls, forged documents, urgency tactics, and false business promises. Due to procedural lapses and failure to verify customer credentials, multiple high-value transactions were processed without proper authorization.

🎧 Key learnings from this episode:

• How WhatsApp phishing scams target bank officials

• Common red flags in impersonation-based frauds

• Why oral / WhatsApp instructions are dangerous

• Importance of verifying registered mobile numbers & email IDs

• Risks of issuing cheque books without proper requisition

• How pressure, urgency, and business temptation cloud judgment

• Preventive measures every branch must follow to avoid such frauds

This episode is essential listening for bank officers, branch managers, operations staff, auditors, compliance teams, and banking exam aspirants to understand how small deviations from SOPs can lead to major frauds and accountability issues.

⚠️ Remember: Fraud doesn’t start with technology failure — it starts with process failure.