Sebi Warns Listed Firms, Regulated Entities Against Rising 'Boss Scam' Cyber Fraud
SEBI urged listed companies to verify transfer requests directly after cybercriminals used voice cloning, deepfakes and malware to target finance staff.
- On Friday, the Securities and Exchange Board of India issued a warning against the "Boss Scam," a cyber fraud where criminals impersonate CEOs and senior executives to trick finance teams into transferring funds.
- The Indian Cyber Crime Coordination Centre prompted this advisory after observing rising instances of fraudsters deploying AI tools, including voice cloning and deepfake videos, via WhatsApp and Microsoft Teams.
- Criminals deploy Malicious ZIP files on Windows devices to hijack active WhatsApp Web sessions, or they alter contact lists on compromised devices, saving fraudster numbers under executive names to deceive employees.
- SEBI urged organizations to independently verify financial requests by directly calling senior officials, avoid installing unverified executable files, and log out of inactive WhatsApp Web sessions to prevent unauthorized access.
- Entities should immediately report suspected cyber fraud incidents to the national cybercrime helpline at 1930 or through the Cyber Crime portal to ensure timely intervention and prevent further financial losses.
15 Articles
15 Articles
SEBI warns listed firms, regulated entities against ‘Boss Scam’ involving CEO, MD impersonation
SEBI has cautioned listed companies and regulated entities against so called “Boss Scam”, where cyber fraudsters impersonate as CEOs, MDs and other senior executives to trick finance employees into transferring funds.
SEBI cautions companies against rising ‘Boss Scam’ targeting top executives
SEBI said cybercriminals are targeting chief executive officers, managing directors and other senior officials by impersonating them through email, WhatsApp, Microsoft Teams and other social media platforms.
SEBI Warns Listed Firms, Regulated Entities Against 'Boss Scam' Involving CEO, MD Impersonation
Get latest articles and stories on Business at LatestLY. The Securities and Exchange Board of India (SEBI) on Friday cautioned listed companies and regulated entities against an emerging cyber fraud known as the "Boss Scam", in which fraudsters impersonate as Chief Executive Officers (CEOs), Managing Directors (MDs) and other senior officials to trick finance executives into transferring funds. Business News | SEBI Warns Listed Firms, Regulated …
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