SEBI warns of Boss Scam
Analysis based on 31 articles · First reported Jul 17, 2026 · Last updated Jul 17, 2026
The advisory is unlikely to have a direct market impact but highlights growing cybersecurity risks for Indian listed firms. Companies may need to invest in verification protocols and employee training, potentially increasing operational costs.
On July 17, 2026, the India — Securities and Exchange Board of India (SEBI) issued a public advisory warning regulated entities and listed companies against a rising cyber fraud known as the 'Boss Scam'. In this scam, fraudsters impersonate CEOs or other senior executives using email, WhatsApp, Microsoft Teams, and social media to trick finance teams into transferring funds. Some variants use AI voice cloning, deepfake video calls, or malware-laden ZIP files to hijack WhatsApp Web sessions. The advisory follows an alert from the India — Indian Cybercrime Coordination Centre (I4C) about increasing instances. SEBI directed entities to strengthen internal controls and not transfer funds solely based on social media instructions.
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