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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.

"Staggering" Increase in Business Email Compromise--aka CEO Fraud

Mimecast’s quarterly Email Security Risk Assessment (ESRA) identified millions of dangerous emails making it through security filters, including a 269% increase in business email ...
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Fake News and Deepfakes: Harmless Fun or the Future of Fraud?

We have all seen them. Fake news articles that get passed off as legit sources. Misleading memes. Entertaining videos that swap people’s faces. But what if these deception techniques were ...
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CEO Fraud Attacks Now Use Deepfake Audio and AI to Mimic Executives Over the Phone

While deepfake video gets most of the attention on social media, it’s deepfake audio that is quickly becoming the cybercriminal’s tools of choice for committing fraud.
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How Can You Check If Your Email Is Compromised?

Rudy Friederich, a KnowBe4 friend at Marshal Security LLC sent me the following interesting tips related to finding out if you are the victim of Business Email Compromise. He wrote:
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FBI Cyber Warning: Attacks On Key Employees Up 100%, As 281 Are Arrested

Zak Doffman, contributor at Forbes reported: "There is a cyberattack epidemic hitting businesses around the world, targeting individuals responsible for requesting fund transfers or ...
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The FBI Updates Their Numbers And BEC Is Now A 26 Billion Dollar Scam

FBI's Internet Crime Complaint Center (IC3) says that Business Email Compromise (BEC) scams —aka CEO Fraud—are continuing to grow every year, with a 100% increase in the identified global ...
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CEO Fraud Overtakes Ransomware And Data Breaches In EMEA Cyber-insurance Claims

CEO Fraud—also known as Business Email Compromise—related cyber-insurance claims accounted for nearly a quarter of all claims in the EMEA region, AIG said.
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Gift Cards Are Now the #1 Business Email Compromise Cash-Out Mechanism for Fraudsters

Overtaking wire transfers and payroll diversion, gift cards have taken a material lead as one of the easiest and least recoverable ways to cash out of a fraud scam. 
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Blank Emails Come Before BEC Fraud Attack

Business email compromise (or CEO fraud) has its reconnaissance phase, too. Researchers at Agari say they’ve found that blank, unsolicited emails are often an early sign that a BEC gang ...
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Business Email Compromise Doubles in Incidents and Triples in Cost

The latest data from the U.S. government’s Financial Crimes Enforcement Network (FinCEN) shows fraud via business email is changing tactics and becoming more effective.
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CEO Fraud hits B.C. lawyers for $2 million

Two B.C. law firms were targets of so-called social engineering frauds causing almost $2 million in real estate and investment funds to be wired to people other than clients the firms ...
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Pleading Guilty to Business Email Compromise

Amil Hassan Raage has taken a guilty plea to charges of fraud in a business email compromise (aka CEO fraud) case that netted him and his criminal co-conspirators almost three-quarters of ...
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Freight Forwarding Email Scams are Business Killers

The Australian Cyber Security Centre (ACSC) has warned that multiple Australian IT suppliers have permanently closed their doors after falling victim to procurement scams, CRN reports. ...
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CEO Fraud Phishing Scams Versus The U.K. Solicitors

The UK’s Solicitors Regulation Authority (SRA) has warned of another email scam that impersonated a real law firm in order to hijack a real estate transaction, according to Martin Parrin ...
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BEC = “Because it’s Easy Cash” Scammers Trick Employees Into Giving Away Customer Info

Business Email Compromise—also known as CEO Fraud—scammers are now targeting a company's customers using a new indirect attack method designed to collect information on future scam ...
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Whoa Nellie. BEC Scams Average USD 300 Million Per Month In Illegal Transfers

New data compiled by the Financial Crimes Enforcement Network (FinCEN) shows that illegal transactions linked to business email compromise (BEC)—aka CEO Fraud— scams averaged $300 million ...
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Impersonation Phishing Attacks Up 67% in Last 12 Months

Social engineering attacks using impersonation tactics increased by 67% over the past twelve months, according to Mimecast’s annual State of Email Security report. Mimecast surveyed more ...
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BEC Scams are a Growing Threat to Retailers

Cybercriminals are improving their social engineering skills to target online retailers with sophisticated business email compromise (BEC) scams, according to Rafael Lourenco at ...
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Business Email Compromise Doubled in 2018, Topping the FBI’s List of Internet Crimes

Despite the massive uptick in just about every cybercrime category, good old-fashioned fraud via email phishing and social engineering dominate as the threat to be most concerned about.
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Scott County Schools victim of $3.7 million CEO Fraud Phishing Scam

GEORGETOWN, Ky. (WKYT) - Scott County Schools has announced the district is a victim of a multi-million dollar online scam. 
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