Beware of the ‘Boss Scam’: SEBI
The capital market regulator, SEBI, has urged listed companies and entities under its purview to remain vigilant against the ‘Boss Scam.’ It advised against trusting emails or messages received via WhatsApp, Microsoft Teams, and other social media platforms from fraudsters impersonating Managing Directors (MDs) or CEOs and requesting fund transfers to specific bank accounts. SEBI warned that transferring funds based on such requests without thorough verification would inevitably lead to significant financial loss.
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