Boss Scam: Cybercriminals Exploit WhatsApp to Defraud Indian Executives

The 'Boss Scam' has emerged as a sophisticated cyber fraud targeting executives in India, using impersonation tactics via WhatsApp. Victims receive urgent messages claiming to be from regulatory bodies or their CEOs, often accompanied by malware-laden ZIP files. One notable case involved a real estate businessman who lost Rs 1.5 crore after his accountant was tricked into transferring funds to a fraudulent account. The Indian Cybercrime Coordination Centre (I4C) has issued advisories regarding this scam, which employs DLL sideloading and session theft to hijack WhatsApp Web. Attackers exploit compromised devices to send messages that appear legitimate, creating a false sense of urgency. This scam has prompted investigations into syndicates operating through mule bank accounts. The I4C's advisory highlights the need for vigilance among financial departments to prevent such frauds.

Key Points: • The 'Boss Scam' targets executives through WhatsApp impersonation and malware. • Victims have lost significant amounts, with one case reporting Rs 1.5 crore stolen. • The I4C has issued advisories to warn companies about this escalating threat.