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27
Mar
2019
CEO Fraud Scam

CEO Fraud Scam

CEO fraud, also known as a Business Email Compromise Scam or (BEC) scam is becoming increasingly popular among criminals thanks to its effectiveness in fooling its victims. It counts on you doing exactly what your boss tells you to do, and the FBI warns it is on the rise.

CEO Fraud is when Fraudsters pretend to be a trusted, high-level executive in order to fool the organization’s employees. The email will urgently request sensitive company information or the transfer of funds to an account they control. They do this by spoofing or copying the email address of the executive and claim to have an urgent, confidential request. Fraudsters target busy people who may not have time to double check the legitimacy of the email. Even if the target carefully examines the email, it is not always easy to spot if it’s fake. This is because criminals create fake emails with almost the exact same spelling of the legitimate CEO’s email, usually by swapping a letter or two that can easily go unnoticed. These messages will look like a normal business communication and fraudsters also add details obtained from the executive’s social media accounts to make it sound even more convincing.

Take steps to protect your business and be alert!

  • Always check the subject header and domain names for errors.
  • Ask yourself if the request seems legitimate or unusual.
  • If you are unsure about a sensitive email, verify the request with a trusted senior colleague prior to carrying out any requests.

If you want more security tips visit the navitend blog site.

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