Sebi sounds alarm over ‘Boss Scam’; fraudsters use AI voice clones, deepfakes to impersonate CEOs

Markets regulator Sebi on Friday cautioned regulated entities and listed companies against an emerging cyber fraud known as the “Boss Scam”, in which fraudsters impersonate chief executives or other senior officials to trick finance teams into transferring funds.

The advisory follows an alert from the Indian Cyber Crime Coordination Centre (I4C), which has flagged a rise in CEO/MD impersonation fraud targeting organisations through email, WhatsApp, Microsoft Teams and other social media platforms.