CEO Fraud is a scam in which cyber criminals spoof company email accounts and impersonate executives to try and fool an employee in accounting or HR into executing unauthorized wire transfers, or sending out confidential tax information.A sophisticated scam targeting business working with foreign suppliers and/ or businesses that regularly perform wire transfer payments.The scam is carried out by compromising legitimate business email accounts through social engineering or computer intrusion techniques to conduct unauthorized transfers of funds.
How CEO fraud impacts you
1. The Start
Attackers see if they can spoof your domain and impersonate the CEO.
2. The Phish
Spoofed emails are sent to high risk employees in the organization.
3. The Response
Target receives email and acts without reflection or questioning the source.
4. The Damage
Social engineering was successful, giving hackers access to what they was after.
5. The Result
The fallout after a successful attack can be highly damaging for both the company and its employee.
CEO Fraud : Different Methods Of Attack
1. Social Engineering.
3. Spear Phishing.
4. Executive Whaling
Article By – Harshita C. Jadhav