Phishing Attack On Office 365 Account Leads To 3 Million CEO Fraud

Sep 24, 2018 7:02:50 AM By Stu Sjouwerman

A phishing attack on an Office 365-account enabled a 3 Mil CEO Fraud Scam at an investment firm. Finnish antivirus company F-Secure reported on their blog. One of the employees at the ...

[ALERT] CEO Fraud Escalates. Bad Guys Now Go After Employee Personal Address And Phone Number

Sep 14, 2018 8:00:00 AM By Stu Sjouwerman

KnowBe4 is observing a serious escalation of CEO Fraud. They are now requesting street addresses and personal phone numbers of employees—an attempt to contact and manipulate employees ...

Size Still Doesn’t Matter Especially When It Comes To CEO Fraud

Sep 6, 2018 3:17:42 PM By Stu Sjouwerman

Lloyds Bank says that Business Email Compromise (BEC)—also known as CEO Fraud—rose by 58% in the UK over the past year. While BEC is often associated by the media with large firms, ...

Email Impersonation aka CEO Fraud Remains on the Rise

Sep 4, 2018 2:26:41 PM By Stu Sjouwerman

With an average of 1 in 6 users receiving email-based impersonation attacks, it spells bad news for organizations.

Scam Of The Week: Another New CEO Fraud Phishing Wrinkle

Jul 20, 2018 4:08:11 PM By Stu Sjouwerman

So, here's a new CEO Fraud phish: see these fresh screen shots from emails reported to us through the free KnowBe4 Phish Alert Button. Bad guys spoof the managing partner and CPA and an ...

$250,000 CEO Fraud In A Municipal Finance Department

Jul 19, 2018 1:46:37 PM By Stu Sjouwerman

Local, state, and Federal authorities are investigating a phishing attack that victimized the city of Alamogordo, New Mexico. One of the city's procurement officers received what appeared ...

FBI Warns that Business Email Compromise (CEO Fraud) is a "$12 Billion Scam"

Jul 18, 2018 3:22:37 PM By Stu Sjouwerman

The FBI is again warning of the threat posed by business email compromise (BEC, aka CEO Fraud) and email account compromise (EAC). Together, says the Bureau, these have cost businesses ...

[Heads-up] Employees Sue Company For W-2 Phishing Scam. Federal Court Decides Triple Damages

Jun 25, 2018 7:13:29 AM By Stu Sjouwerman

Imagine my surprise when I saw a picture of myself in the blog of large North Carolina Law firm Poyner Spruill. It was all good though. They had picked up an example of a real W-2 ...

Finally, The Criminals Pay in CEO Fraud Scam

Jun 14, 2018 4:08:45 PM By Stu Sjouwerman

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.

Surprise! What's The Country Where All The CEO Fraud Gangs Are?

May 24, 2018 5:05:53 PM By Stu Sjouwerman

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.

The Class Action Litigation Consequences of Business Email Compromise Attacks

Feb 23, 2018 11:41:45 AM By Stu Sjouwerman

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 ...

CEO Fraud Costs Major Airline Millions Of Dollars

Dec 23, 2017 1:51:51 PM By Stu Sjouwerman

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 ...

Trend Micro: CEOs Are The Most Spoofed

Sep 12, 2017 4:36:03 PM By Stu Sjouwerman

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 ...

MacEwan University Victim Of $11.8M CEO Fraud

Sep 1, 2017 1:53:43 PM By Stu Sjouwerman

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 ...

Nigerian Phishers Have Gone to School and Gotten Their CEO Fraud Diploma

Aug 29, 2017 5:45:48 PM By Stu Sjouwerman

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, ...

The RopeMaker Exploit Can CHANGE An Already Delivered Email

Aug 25, 2017 5:55:44 PM By Stu Sjouwerman

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 ...

CEO Fraud Attacks Were Far More Lucrative than Ransomware over the Past 3 Years

Jul 22, 2017 10:07:43 AM By Stu Sjouwerman

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 ...

FBI: "Extortion And CEO Fraud Are The Top Online Fraud Complaints"

Jun 24, 2017 11:01:30 AM By Stu Sjouwerman

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 ...

Southern Oregon University Lost $1.9 Million Due To CEO Fraud

Jun 15, 2017 11:32:31 AM By Stu Sjouwerman

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 ...

[ALERT] FBI: "CEO Fraud Is Now 5.3 Billion Email Scam"

May 6, 2017 10:55:48 AM By Stu Sjouwerman

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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