CEO fraud and how to protect your company
Can you imagine someone in your team transferring thousands of euros by your direct order… without your request? It’s not science fiction, it’s one of the most frequent and silent scams suffered by companies today: the CEO fraud.
In this post we explain exactly what this type of attack is, how cybercriminals execute it and, above all, how you can prevent it in your company. From Gloferawe help you to protect your SME with ProCiberour multilayer cybersecurity solution managed by professionals.
What is CEO fraud?
CEO fraud is a social engineering technique in which attackers impersonate an authority figure within the company – usually the managing director or CEO – to trick a trusted employee into performing an urgent action, such as a bank transfer, sending confidential information or accessing systems.
The most dangerous thing about this fraud is that it does not require hacking anything. It relies on deception, fear and urgency to manipulate the victim. And the worst part: it often goes unnoticed until it is too late.
How does CEO fraud work?
This type of attack usually follows a well-designed pattern. Here we explain how the attackers operate:
Real example:
“Hi Marta, I need you to make an urgent transfer of €15,000 to this international supplier. I’m in a meeting and can’t talk, but this can’t wait. Confirm it to me through this same channel. It’s confidential.”
The sender appears to be the CEO. The tone, urgency and familiarity cause the person to act without question. And the damage is done.
How can a cyberattack like this be prevented or acted upon?
Preventing CEO fraud does not depend only on firewalls or antivirus. The most important thing here is the combination of technology, processes and security culture:
CEO fraud does not discriminate by company size. SMEs are especially vulnerable because they tend to have fewer resources and control processes. And a single transfer can mean a big loss.
For this reason, from Gloferawe offer you ProCiber, our multilayer cybersecurity solution, designed so that your company is always protected, with 24/7 monitoring, email protection, team training and advanced tools to detect and prevent attacks like this one. Learn more about ProCiber here.
Do you have questions or want to know how to protect your company against CEO fraud? Write to us at hola@glofera.com or call us at +34 900 600 300 and request your free personalized advice with one of our experts.
Don’t let a fake email put your company at risk!
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