By Soniya:
The Indian Cyber Crime Coordination Centre (I4C) has issued a warning about the growing threat of “Boss Scam,” a sophisticated cyber fraud in which criminals impersonate senior executives such as CEOs or CFOs to trick employees into transferring funds or sharing confidential information.
Unlike traditional phishing attacks that target large numbers of users, Boss Scams are highly personalized and exploit trust, authority, and urgency within organizations. Cybercriminals often pose as regulators like the RBI, sending seemingly legitimate emails or WhatsApp messages containing malicious files. Once opened, these files can install malware, compromise devices, and even hijack WhatsApp Web sessions.
After gaining access, fraudsters impersonate company executives and send urgent requests for payments, financial approvals, or sensitive data. Because the messages appear to come from trusted leaders, employees may unknowingly comply, leading to significant financial losses.
The I4C has advised businesses to adopt strong verification procedures, avoid downloading files from unknown sources, monitor linked devices regularly, and use advanced cybersecurity tools. Experts emphasize that independent verification of financial requests through phone calls, video meetings, or direct discussions remains the most effective defense against Boss Scams.
As cybercriminals increasingly leverage social engineering and AI-powered impersonation techniques, organizations must strengthen awareness and security measures to protect themselves from this evolving threat.
