Attackers impersonate trusted executives – like the CEO or CFO – and induce target employees to take actions that lead to compromise.
These cybercriminals are using LinkedIn and Facebook to understand the company C-Suite executives beforehand. With valuable online information of the chief executive officer (CEO), and chief financial officer (CFO), a phishing campaign can be launched targeting the finance department to transfer funds urgently to another bank.
Phishers rely on the “fear of the boss” mentality: all employees want to be effective at their job, and they probably won’t decline an order coming directly from potentially the most important person within their company. Employees usually feel obligated to comply with anything their CEO requests, and that is what cyber-criminals put their money on.
CEO fraud is a form of Business Email Compromise (BEC). It is an epidemic of email impersonations that are responsible for billions of dollars in losses around the world.
Let work together to protect the company and stay vigilant against CEO impersonation attack and email phishing scam.
Jamson is a technopreneur and passionate in Cloud computing, Cyber-security, and Digital Marketing.