CEO Fraud

CEO fraud, also known as Business Email Compromise (BEC), refers to a type of cyber attack where fraudsters impersonate a high-ranking executive, typically the CEO of a company, with the aim of deceiving employees into taking unauthorized actions. These attacks often take the form of deceptive emails, where the attacker manipulates the content and context to make it appear as if it is coming from the CEO’s email account.

The objective of CEO fraud is to trick unsuspecting employees into performing actions that are financially or operationally detrimental to the organization. This could include authorizing fraudulent payments or wire transfers, disclosing sensitive company information, or diverting funds to fraudulent accounts. The attackers exploit several tactics such as social engineering techniques, including building familiarity and urgency, to increase the credibility of their impersonation. These attacks can cause significant financial losses, damage the reputation of the targeted organization, and compromise sensitive data.