Since 2003, the FBI has published numerous press releases every year warning of increasingly sophisticated email scams/email fraud targeting high-end firms. By sending emails that spoof executives working at a firm, hackers are able to convince the firm to send unauthorized international and national wire transfers involving large amounts of money. In fact, the FBI reports email fraud affected over 7,000 companies and cost these firms $750 billion between 2013 and 2015.
What is CEO Fraud?
Also referred to as business email compromise scams (BEC scams), CEO fraud begins with CEO email hack professionals phishing managers to gain access to their inbox. They may also phish employees from a domain that appears to be from a company executive. For example, a CEO email hacker might take a firm’s true domain URL –www.firmdomainname.com– and insert a negligible letter or number that would be easily looked over, such as www.firmdomainename.com.… Read moreRead More