Wordorigins.org

Bogey is a term that today is usually only heard in the air force or on the golf course.  Both these aviation usages date to World War II, but the term bogey is much, much older, coming from an old Scottish word for a ghost.

That word is bogle, often spelled bogy, bogil, bogie, and other ways. The term dates at least to 1505, in William Dunbar’s Tua mariit wemen and the wedo (Two married women and the widow):

The luif blenkis of that bogill, fra his blerde ene.
(The love glance of that bogle, from his bleary eyes.)

Bogle is the source for our modern bogeyman or boogieman.