So what is CEO Fraud anyway?

CEO Fraud is a type of cybercrime where an attacker impersonates an executive of a company to trick employees into divulging confidential information.

 

Generally CEO Fraud is an email scam or in other words a phishing attack on a company.

Is CEO Fraud something the average business needs to worry about?

Yes, all businesses should worry about CEO Fraud, no matter how large or small the business is.

There’s always a possibility that your business can be targeted by a random attacker, no matter what the state of the company is in, and it’s something that affects companies of all types and sizes equally.

What are the causes of CEO Fraud?

There are many causes of CEO Fraud — the most common causes of CEO fraud are spear phishing attacks and targeted social engineering, where attackers spoof company credentials (email addresses, IDs) in order to impersonate company executives and fool employees into leaking confidential information about the company and/or themselves.

How can I stop CEO Fraud at my company?

CEO Fraud can be easily avoided if you take the necessary precautions.

You can train your employees to recognize phishing attacks through phishing simulations.

Hailbytes provides self serve phishing simulations which you can go through here.