ICAI Warns Members and Students against Fake Calls, WhatsApp Messages and Fraudulent Payment Demands

The Institute of Chartered Accountants of India (ICAI) has released a public advisory warning its members, students, and the general public about an increase in fraudulent activities. Scammers are reportedly using phone calls, WhatsApp messages, emails, and SMS to impersonate Institute officials and trick stakeholders into sharing sensitive data or making unauthorized payments.

According to the ICAI, certain individuals are falsely claiming to be office bearers, employees, or representatives of various regional councils and branches. These imposters contact people regarding official matters, including examination schedules, membership services, articleship training, job opportunities, and disciplinary proceedings.

The Institute added that these fraudsters create a false sense of urgency or panic to mislead students and members. In many reported cases, they demand immediate payments through unofficial channels, often threatening "adverse consequences" like disqualification or cancellation of membership if the students/professionals did not comply with their instructions.

The advisory also points out the circulation of fake study materials and unauthorized announcements through private WhatsApp groups and social media platforms. Stakeholders have been warned that these imposters are actively seeking highly sensitive information, such as:

• Banking passwords and Internet banking credentials
• One-Time Passwords (OTPs) and CVV numbers
• Personal identity documents and confidential data
• Scanning of suspicious QR codes or clicking on unknown links

ICAI has clarified that it never requests confidential financial details or personal passwords through calls, WhatsApp, or SMS. All official communications are sent only through verified ICAI channels, and any payments for services must be made exclusively through the official ICAI portal and its approved payment systems.

Members and students are advised not to rely on forwarded messages or unofficial circulars without first verifying the information on the ICAI website. The Institute has requested anyone who receives such suspicious communications to report them immediately.

It is also informed that the stakeholders should provide screenshots, the sender's phone number, and other relevant details to the Institute so that legal action can be taken against the fraudsters.

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