In a shocking case of digital deception, cybercriminals masquerading as senior Morgan Stanley officials have defrauded a Bengaluru resident of a staggering Rs 1.02 crore through an elaborate WhatsApp-based scam that unfolded in November 2025.
The Elaborate Impersonation Scheme
The sophisticated fraud began when the victim was added to a WhatsApp group that appeared completely legitimate. The group featured three administrators who confidently presented themselves as the CEO and senior HR executives of Morgan Stanley's Asia Pacific division.
According to the victim's statement, the impersonators created an atmosphere of authenticity that made their claims believable. They used professional language, understood corporate hierarchies, and demonstrated knowledge of financial operations that convinced the victim he was dealing with genuine Morgan Stanley representatives.
How the Scam Unfolded
The cybercriminals executed their plan with precision, building trust gradually before making their financial demands. They engaged the victim in conversations about investment opportunities and financial products that seemed credible given Morgan Stanley's actual business operations.
Over time, the fraudsters manipulated the victim into transferring substantial amounts of money, ultimately accumulating to Rs 1.02 crore. The entire scheme was coordinated through the WhatsApp platform, highlighting how messaging apps have become new hunting grounds for financial scammers.
Growing Threat of Corporate Impersonation Scams
This incident underscores a disturbing trend where cybercriminals are increasingly targeting individuals by impersonating reputable financial institutions and their senior executives. The use of WhatsApp groups adds a layer of credibility, as multiple "official" participants create the illusion of legitimacy.
Financial cybersecurity experts note that such scams have become more sophisticated, with fraudsters conducting extensive research on their targets and the organizations they impersonate. The November 15, 2025 timestamp of this incident indicates these threats continue to evolve despite increased awareness about online security.
Authorities are investigating the case and have warned citizens to verify the identity of anyone claiming to represent financial institutions, especially when communication occurs through unofficial channels like personal WhatsApp numbers.
