What is a ‘boss scam’? 5 ways to protect yourself from CEO fraud

A Chennai firm allegedly lost ₹1.90 crore after a WhatsApp message posing as its managing director, leading to a Delhi arrest. Here’s how the ‘boss scam’ works, the warning signs of CEO impersonation fraud, and five steps to verify payment requests and report cyber fraud on helpline 1930.

The cybercrime wing of Avadi city police in Tamil Nadu has arrested a 27-year-old Delhi man in connection with an alleged ‘boss scam’ in which ₹1.90 crore was transferred from a private company in Chennai’s Ambattur Industrial Estate.

According to a report by The Hindu, Soundararajan, general manager of Fluidtherm Design & Development Pvt. Ltd., received a WhatsApp message on 13 August, purportedly from the company’s managing director. He was allegedly manipulated into transferring ₹1.90 crore to a specified bank account.

After realising he had been cheated, he lodged a complaint with the Avadi Cyber Crime Wing. The investigation allegedly traced the funds to an account belonging to Deepak Meena, 27, who was arrested in Delhi.