I4C Warns of ‘Boss Scam’

The Indian Cyber Crime Coordination Centre (I4C) has issued a warning about a growing cyber fraud known as the “Boss Scam,” in which cybercriminals impersonate CEOs and senior executives to deceive company employees. Unlike traditional online scams that target individuals, these fraudsters focus on organizations, exploiting employees’ trust in senior management to steal money or obtain confidential information. Authorities have urged both businesses and employees to remain vigilant against such sophisticated attacks.

According to I4C, cybercriminals initially target top executives by sending fraudulent emails or WhatsApp messages posing as regulatory bodies such as the Reserve Bank of India (RBI). These messages often contain malicious ZIP files that install malware once opened. The malware allows attackers to gain access to official communication channels, including WhatsApp Web sessions. Fraudsters then send urgent payment instructions to finance teams, directing them to transfer funds. Experts advise employees to verify payment requests directly with senior officials, avoid downloading files from unknown sources, regularly check linked devices, and use updated anti-malware software to strengthen cybersecurity.