SEBI warns listed firms, regulated entities against ‘Boss Scam’ involving CEO, MD impersonation

Mumbai (Maharashtra) [India], July 17 (ANI): 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.

SEBI said the advisory has been issued after the Indian Cyber Crime Coordination Centre (I4C) informed the market regulator about the growing trend of such frauds.