Kerala Police alerts firms to 'boss scam' cyber fraud targeting executives
The Kerala Police on Sunday issued a warning to companies and institutions about a cyber fraud known as the ‘boss scam’, in which fraudsters impersonate senior executives to trick employees into transferring funds.
In a statement, the police explained that the fraud begins with fake urgent messages purportedly from the Reserve Bank of India (RBI) or official audit teams, sent to senior executives and finance department staff. These messages create panic and often include ZIP files containing malware.
Once a recipient opens the malicious file, the fraudsters gain access to the organisation’s computer systems. They then either create fake profiles of senior officials or hijack their existing accounts. Using WhatsApp Web, they pose as CEOs or other top executives and direct employees to urgently transfer money, siphoning off company funds.
To prevent such fraud, the police advised employees not to rely solely on WhatsApp or email messages when processing financial transactions. Instead, they should directly contact senior officials to verify any request before transferring large sums of money.
The statement also cautioned against opening ZIP, EXE, or DLL files from unknown sources and urged organisations to regularly check the “linked devices” section of WhatsApp to ensure no unauthorised devices are connected. Additionally, it recommended implementing multi-level approval mechanisms for financial transactions to minimise fraud risk.
Anyone who falls victim to cyber financial fraud should immediately report the incident through the cyber helpline number 1930 or lodge a complaint on the official cybercrime portal, the police added.
