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CEO Fraud Blog

News about the latest CEO fraud attacks. See how the bad guys actually do this and how much money companies lose to this type of scam.

Finally, The Criminals Pay in CEO Fraud Scam

Some good news finally. It seems that the bad guys do get caught sometimes. In this case, 70 cybercriminals in the U.S. and Nigeria.
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Surprise! What's The Country Where All The CEO Fraud Gangs Are?

A new study by Agari concludes that, despite all the attention nation-state espionage services have been getting for their phishing attacks, the big threat still comes from criminal gangs.
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The Class Action Litigation Consequences of Business Email Compromise Attacks

Sunil Shenoi, Seth Traxler and Gianni Cutri are partners at Kirkland & Ellis LLP and advise clients on a variety of data security issues, including responding to data security incidents, ...
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CEO Fraud Costs Major Airline Millions Of Dollars

This week the international carrier Japan Airlines (JAL) admitted it had fallen victim to CEO Fraud that cost it 384 million yen (about $3.39 million). The incidents took place in ...
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​Trend Micro: CEOs Are The Most Spoofed

Trend Micro researchers reported that  cybercriminals spoofed the CEO email address the most, with CFOs and finance directors being the top attack targets. In their 2017 Midyear Security ...
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MacEwan University Victim Of $11.8M CEO Fraud

CBC News reported that an Edmonton, Canada university was the victim of a $11.8 million CEO fraud attack after staff failed to call one of its vendors to verify whether emails requesting ...
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Nigerian Phishers Have Gone to School and Gotten Their CEO Fraud Diploma

The FBI calls CEO Fraud "Business Email Compromise" (BEC) and it has become a highly lucrative threat vector for attackers. According to IC3, the FBI's Internet Crime Complaint Center, ...
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The RopeMaker Exploit Can CHANGE An Already Delivered Email

Our friends at Mimecast are warning against something scary! This is a sobering example of why scanners and filters will always be behind in the security arms race... They wrote: "Most ...
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CEO Fraud Attacks Were Far More Lucrative than Ransomware over the Past 3 Years

Cisco's midyear report released this week showed that CEO Fraud netted cybercrime five times more money than ransomware over the last three years. The surprising highlight of Cisco's ...
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FBI: "Extortion And CEO Fraud Are The Top Online Fraud Complaints"

And victims aren't reporting ransomware attacks... Online extortion, tech support scams and phishing attacks that spoof the boss (CEO Fraud) were among the most damaging and expensive ...
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Southern Oregon University Lost $1.9 Million Due To CEO Fraud

Mail Tribune reported that Southern Oregon University is just the latest victim of CEO fraud (which the FBI calls Business Email Compromise or BEC) after hackers tricked university ...
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[ALERT] FBI: "CEO Fraud Is Now 5.3 Billion Email Scam"

There is no better budget ammo for new-school security awareness training than this. Attempts at cyber wire fraud, using spoofed email to impersonate a C-level executive or trusted ...
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Can Your Domain Be Spoofed? Find Out For A Chance To WIN!

Can You Be Spoofed? Find Out For A Chance To WIN!    Did you know that one of the first things hackers try is to see if they can spoof the email address of someone in your own domain? Now ...
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Proofpoint: "45% Surge In CEO Fraud" And Domain Spoofing Even Higher [infoGraphic]

CEO Fraud, aka Business Email Compromise (BEC), is skyrocketing. Proofpoint recently conducted research into these types of attacks across more than 5,000 enterprise customers. Their ...
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Who Were The Two Big US Tech Companies That Lost $100 Million In CEO Fraud?

4/28/2017 UPDATE: Facebook and Google confirmed as victims of $100M phishing scam. Story at The Verge. In an update on an earlier post of April 2016, more detail came known about this ...
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Campbell County Health Falls Victim To W-2 CEO Fraud

And another one.  You have to watch it, the tax scam season is back in full swing.  Full W-2 information including SSN# for more than 1,400 employees who worked over the past year at ...
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Sedgwick County Loses $566,000 Due To CEO Fraud

WICHITA, Kansas - A Georgia man has been arrested on federal charges he carried out an e-mail spoofing scheme that cost Sedgwick County $566,000.  George S. James, 48, Brookhaven, Ga., is ...
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Why You Should Be Afraid of CEO Fraud [INFOGRAPHIC]

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City Of El Paso Victim Of 3 Million Dollar Phishing Scam

During a news conference Wednesday afternoon, city officials revealed that cybercriminals pretending to be a vendor scammed the city's Accounts Receivable Department out of about $3 ...
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AI-powered ransomware is coming, and it's going to be terrifying

Business Insider started an article with the following: "Imagine you've got a meeting with a client, and shortly before you leave, they send you over a confirmation and a map with ...
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