Cheating and Feinting: The Offensive Stage of CEO Fraud
If the blackmailer has gathered enough information on their target they make the first contact and begin the offensive stage of CEO Fraud
. The offenders now must accomplish a certain familiarity with the targeted subject. They do this by referring to current topics of the company in their email. This topic could be an upcoming acquisition or the latestsales figureswhich can be withdrawn from previous press releases.
To put the crown on the scam, some cyber criminals create an email address that is similar to the one of the CEO. In this connection, it is a perfidious trick to replace certain letters with letters that look extraordinarily similar. The letter L
ecompany can for instance be easily replaced by a capital I
. For the ordinary person, this scam also known as Spoofing
can only be recognized by close scrutiny.
Another trick utilized by cyber criminals is the use of an existing emal communication. For example, if the offender knows with which person the CEO of a company usually communicates with and what topics are usually discussed, the perpetrator can counterfeit such communication. Fake logos and email signatures complete the picture of a completely legitimate email communication.
It’s in the email itself where cyber criminals dig deep into their bag of psychological tricks in order to initiate the transactions they desire. A commendation for the work of the targeted subject or the buildup of pressure can be used to trick the subject. Often, the offenders pretend to need a transfer of money to be sent as quickly as possible because an important and discreet deal could fail. It must be discreetso the targeted subject does not inform other colleagues about this affair which could end the scam.