Impersonation of company executives to trick employees into making fraudulent payments or sharing sensitive data.
CEO fraud is a form of BEC where attackers impersonate the CEO or other senior executives to request urgent wire transfers, gift card purchases, or sensitive information. Attackers exploit the authority of executives and employees' reluctance to question their bosses. Emails typically stress urgency and confidentiality, discouraging verification. CEO fraud often targets finance departments during busy periods or when executives are travelling and harder to reach.
Why It Matters
The DSC Perspective:
CEO fraud exploits company hierarchy and culture. Creating a verification process that finance staff can use without fear of offending executives is essential. Legitimate leaders will support security procedures.