‘Boss Scam’ alert: Fraudsters posing as regulators target CEOs to siphon company funds

The Union Home Ministry has sounded an alarm over an emerging cyber fraud dubbed the “Boss Scam”, warning that cybercriminals are impersonating regulators to compromise the devices and WhatsApp accounts of top executives and trick companies into transferring money to fraudulent bank accounts.

In an advisory issued by the National Cybercrime Threat Analytics Unit (NCTAU) under the Indian Cyber Crime Coordination Centre (I4C), the Ministry said fraudsters were increasingly targeting chief executive officers and other senior officials through email and WhatsApp messages masquerading as urgent communications from regulatory authorities.