New Delhi, June 22: The Indian Cyber Crime Coordination Centre has issued a warning about a new form of cyber fraud known as the ‘Boss Scam’ or ‘CEO Impersonation Fraud.’ This scam targets senior company officials and CEOs to execute financial fraud.
According to the Indian Cyber Crime Coordination Centre, scammers pose as officials from regulatory bodies like the Reserve Bank of India, contacting victims via email or WhatsApp. They claim that a serious regulatory violation has occurred, necessitating immediate action.
Following this, a zip file is sent, containing software used by hackers. In many cases, the CEO or senior official forwards the message to the finance department.
The Indian Cyber Crime Coordination Centre reports that once this file is opened on a Windows system, a Trojan virus activates. This compromises the device and the WhatsApp web session. Criminals then use the official’s real WhatsApp account to send fake payment instructions to employees, transferring funds to mule bank accounts.
In another tactic, hackers alter the device’s contact list, saving their number under the CEO’s name and sending instructions to employees from there.
The cyber agency has advised companies and employees to exercise caution by not conducting immediate financial transactions based solely on WhatsApp or email messages. Any transaction should be confirmed through a phone call or face-to-face conversation.
Additionally, they recommend not opening files from unknown sources and emphasize that institutions like the Reserve Bank do not send software updates via WhatsApp. Companies should implement a software restriction policy and regularly check WhatsApp ‘linked devices.’ They also advise maintaining updated anti-malware protection across all systems.
In case of any cyber fraud, the Indian Cyber Crime Coordination Centre urges individuals to call the 1930 helpline number or file an online complaint.
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