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CEO Fraud is on the Rise

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A recent FBI report has revealed shocking statistics about a previously obscure scam known as “CEO fraud.” According to the Bureau, more than two billion dollars was lost to such scams in 2015 alone. The report noted that there has been a “drastic” increase in such occurrences over the course of the past year—and it is therefore crucial that businesses understand such crimes in order to mitigate risks

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CEO Fraud is on the Rise

  1. 1. CEO Fraud (Whaling) This Type of Attack is on the Rise
  2. 2. A Recent FBI Report Reveals Shocking Statistics According to the Bureau, more than two billion dollars was lost to such scams in 2015 alone Exponential increase this year in attacks Crucial Businesses understand such crimes in order to mitigate risks
  3. 3. How it Works CEO fraud is a crime of impersonation. Cyber criminals impersonate the CEO, asking for money to be transferred Employees are under the impression they are following the CEO’s instructions
  4. 4. CEO Fraud Method, Attacks and Scenarios Double Phishing. Attackers compromise the CEO’s mailbox, then send an email to employees. Lost/Stolen Devices. Unsecured media can compromise security enormously. Mock Accounts. Attackers create a similar email in the hopes it tricks the employee.
  5. 5. Safeguarding Against CEO Fraud Creating a Company Policy for Verification of the CEO, or indeed any caller requiring financial transactions. User education on these dangers. What to look out for, how to confirm. Investment in Security Solutions, IPS, Mail Filtering Develop a mature Security Strategy
  6. 6. Need Assistance or Want to Know More ? You can learn more about how employees are a threat to your business in terms of CEO Fraud by reading the full article here. If you want to learn more about advanced mobile security threats and how to protect your organisation, click here , comment in the boxes below, call us on 0203 3193 930 or email neil.kemp@networkandsecurity.co.uk

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