When the CEO talks, employees listen. Knowing this, bad actors impersonate C-suite executives in “CEO fraud” spear phishing emails that, if successful, can provide them with access to sensitive company data and systems, or convince the recipient to send money to their accounts.
Any money sent to these scammers gets quickly laundered and dispersed, often becoming unrecoverable. Data, on the other hand, may surface on the dark web, for sale to the highest bidder.
CEO fraud – also known as CEO spear phishing, executive fraud, whaling, and other names – can be a particularly devastating type of attack, as some organizations have already discovered. With the right knowledge and CEO fraud protection tools, however, your business can avoid becoming a victim.
Read on to find out more about CEO fraud and spear phishing in general, including stories about some of the biggest attacks to date. In this post you’ll learn:
- How some enterprises have fallen for CEO fraud, and the associated costs;
- How AI is likely to up the ante, increasing CEO fraud and spear phishing attacks;
- How to spot a phony email from your CEO, CFO, or other business leader; and
- How to protect your enterprise from becoming the next CEO fraud victim.