ATP – Secure your company from CEO fraud
Advanced Threat Protection is a cloud security service based on special analysis engines that detect attacks like CEO fraud, spear phishing and ransomware.
CEO fraud: How do the attackers proceed?
One fake email was enough to persuade a top US agribusiness manager to transfer $ 17.2 million to a Chinese bank account. The top manager of this company assumed to act on behalf of his boss. A mistake, as it turned out in hindsight.
The criminals were meticulous in the fraud of the victim. In order not to cause a stir, they had asked the top manager to keep silent. He followed the instructions, so that no other colleague had been involved in the transfer. The concerned person assumed that it was a confidential mission of the management.
The manager targeted by the attackers received the email that seemingly came from the managing director. Based on insider information the cyber criminals could gather, they knew about the upcoming acquisition of a Chinese company. So the pretext sounded very plausible to the victim.
To increase the credibility of this email, the fraudsters sent a fake email to the top manager, which also included a phone number from the allegedly involved audit firm. There he called. The employee who answered the other end was also a scammer.
After this incident, the manager had to leave the company and the FBI was involved.
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CEO fraud: How do the attackers proceed?
As you can see, those kind of attacks are very sophisticated and thus very hard to detect with typical protection measures. With Advanced Threat Protection, the internal communication between particular people of company is specifically examined for such attacks in order to prevent abuse through identity spoofing.
Video: Dangers of CEO-Fraud
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