Sebi warns listed firms, regulated entities against rising 'Boss Scam' cyber fraud

SEBI has issued an advisory warning listed companies and regulated entities about a rise in 'Boss Scam' cyber fraud, where fraudsters impersonate senior executives via email, WhatsApp, and Microsoft Teams to direct subordinates to transfer funds. The advisory, prompted by inputs from the Indian Cyber Crime Coordination Centre (I4C), highlights tactics including AI-based voice cloning, deepfake video calls, and malware-laden ZIP files that hijack WhatsApp Web sessions. Entities have been advised to independently verify transfer requests, avoid installing unverified executable files, log out of inactive WhatsApp Web sessions, and report incidents on the cybercrime helpline 1930.