SEBI flags ‘boss scam’, warns of scammers posing as CEOs

The Securities and Exchange Board of India (SEBI) on Friday issued a warning to listed companies and regulated organisations over a growing cybercrime known as the ‘boss scam,’ in which scammers pose as senior executives to embezzle money.

The market regulator reported that the Indian Cyber Crime Coordination Center had informed it of a new trend involving the use of digital communication technologies to impersonate managing directors (MDs) or chief executive officers (CEOs).