Indian regulator warns of 'boss scam', a cyber fraud targeting top executives

MUMBAI, July 17 : Indian markets regulator on Friday issued a warning against a cyber fraud involving impersonation of CEOs and other senior executives of companies to trick employees into transferring funds. The Securities and Exchange Board of India (SEBI), while referring to this as 'boss scam', said the warning was being issued after it received information from Indian Cyber Crime Coordination Centre of rising instances. The regulator said fraudsters are targeting finance executives and other employees through email, WhatsApp, Microsoft Teams and social media platforms while posing as CEOs or other senior executives.The scammers then instruct victims to transfer funds to accounts controlled by them. Another variation of the scam involves sending malware files to the employees. Once ope