CEO fraud, also called a business leader scam or “fake president” case, is a popular spear phishing scam. Employees are asked by their alleged superiors in fake emails, for example, to transfer a certain amount of money or even to disclose sensitive data.
The CEO Fraud focuses on imitating everyday professional situations. In hierarchical and fast-moving corporate cultures, urgent requirements on the part of management are usually not uncommon. A request to quickly transfer a larger sum of money is often implemented by the employees.
Because of the direct and personal communication and imitated rhetoric, it is up to the employee, alone, to recognize the attack and react to it. Another explosive aspect of the CEO Fraud is that, due to the simplicity of the attacks, imitations are possible. Anti-virus programs or firewalls are ineffective here, since this is not a technical attack. Only lasting sensitization and permanent vigilance help.
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