This week, the managing director of an internationally active company in the Märkisches Kreis exposed what appeared to be a very cleverly worded fraud email. The police are using the case as an opportunity to warn again about the scam known as “CEO fraud”. Significant damage occurs again and again.

This is how CEO fraud works

In this case, the supervisor allegedly reported from abroad and reported on a “larger project”. Apparently this email was so perfect that the manager had no suspicion. That changed with the second email. This time he was asked to contact a lawyer in a third European country. The managing director noticed a small inconsistency in the otherwise “perfect” message, which is why he sought a direct route to his superior – and the fraud was discovered. The emails did not come from the manager and the fraudsters would probably have asked for a larger sum to be transferred in one of the next steps.

Employees must be warned

Companies should inform all employees about the danger. The fraudsters use all known communication channels. The messages give the impression that they actually come from the boss. Of course it involves sums of money that need to be transferred at short notice. Companies should set up clear rules about who can place which orders and how and how and set up checking routines. The perpetrators often first collect all possible information about their victims, which is not too difficult in the age of the Internet. This includes, for example, information about employees with power of attorney or planned foreign transactions. But a report about the boss's upcoming trip to a trade fair can also provide fraudsters with important information. The perpetrators also evaluate the employees' social media profiles.

Further information: Märkischer Kreis District Police Authority

Source:

Märkischer Kreis police authority
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