Guwahati: A Guwahati-based distribution company became the latest target of a growing “Boss Scam” after a fraudster allegedly impersonated its owner on WhatsApp and persuaded an employee to transfer Rs 10 lakh through RTGS.The entire amount was later traced and placed on hold through the Assam Police CID’s cybercrime response system after intervention via the 1930 cybercrime helpline, according to a CID statement.The incident, reported on Sept 14, detailed in a CID statement, mirrors a cyber-fraud technique that has prompted specific warnings from the Indian Cyber Crime Coordination Centre (I4C) and Securities and Exchange Board of India (SEBI).According to the CID, the fraudster used the business owner’s name and WhatsApp display picture before contacting the company’s manager and directing him to transfer the money to a bank account. Believing the instruction to be genuine, the manager made the payment.The scam is particularly dangerous because unlike conventional phishing, where a fraudster contacts an unknown victim, boss scam exploits an existing chain of trust within an organisation.A message appearing to come from a CEO, proprietor, director or senior executive can be difficult for an employee to question, particularly when it uses the person’s familiar name, photograph and communication style.I4C has warned that criminals are now going further by compromising executives’ computers and active WhatsApp Web sessions using malicious files disguised as regulatory or account-related documents. The compromised accounts can then be used to send apparently genuine payment instructions to finance staff.SEBI, in a July advisory, specifically described the emerging fraud as “Boss Scam” or CEO/MD impersonation fraud and said it was targeting senior executives and finance personnel. It advised companies not to transfer funds solely on the basis of instructions received through WhatsApp, email or other social-media platforms.
