The Securities and Exchange Board of India has warned listed companies and regulated entities about a growing cyber fraud often described as the “Boss Scam.” In these cases, scammers pretend to be chief executives, managing directors or other senior leaders and try to trick employees into sending money.
The fraud typically targets staff involved in finance and payments, using urgency and authority to push for quick fund transfers. By posing as top management, criminals attempt to bypass normal caution and internal checks that would usually apply to financial transactions.
SEBI’s alert highlights the rising risk of executive impersonation in the corporate sector, especially as digital communication becomes central to day-to-day operations. The warning is aimed at helping companies stay alert to social engineering tactics that exploit trust, hierarchy and time pressure.
The regulator’s caution serves as a reminder for organisations to strengthen verification processes before approving any transfer of funds, particularly when instructions appear to come from senior leadership. For listed firms and other regulated entities, the message is clear: suspicious payment requests should be independently confirmed before any action is taken.
