Syschem India Ltd, a pharmaceutical company located in Manimajra, Chandigarh, fell victim to a significant fraud on April 15 when a scammer impersonated its managing director, Rajan Jain. The fraudster sent a WhatsApp message to the company’s accounts officer, instructing her to transfer ₹1.96 crore to a bank account belonging to BTO Stepmile Realty Private Limited in Noida, Uttar Pradesh. The employee complied, transferring the funds via National Electronic Funds Transfer (NEFT). Upon investigation, it was discovered that the WhatsApp account was fake, despite displaying Jain's name and picture. The company promptly contacted the banks involved to freeze the account, but the funds had already been dispersed to multiple other accounts. A case has been filed at the cyber crime police station in Chandigarh, but no arrests have been made as of now.