In the CEO fraud scam, fraudsters pose as a manager of a company, for example as a managing director (CEO). In fake emails, they ask employees to transfer large sums of money from company accounts abroad. The damage: several million euros.
CEO fraud: perpetrators are sophisticated
They first collect all kinds of information about the company being attacked and thus gain the necessary insider knowledge for their fraud. Their sources of information include economic reports, the commercial register, company advertising brochures or their homepage. They are particularly interested in business partners, future investments and email addresses of company employees . Another important source of information are social networks, in which employees reveal their role and activity or personal details.
Once they have thoroughly informed themselves, they contact well-researched employees and pose as senior managers, managing directors or trading partners . Their victims are usually accounting or accounting employees who are authorized to make transfers. They are asked to transfer large sums to foreign accounts
Contact is usually made by email or telephone, with email addresses falsified and telephone numbers concealed .
The same thing happened in Erfurt
One of the fraudsters posed as a managing director and contacted a company employee several times since mid-December, the Erfurt State Police Inspectorate said. The employee was asked to make several transfers to foreign accounts.
How to protect yourself from CEO fraud
- Be careful about what information you post about your company.
- Inform your employees about the “CEO fraud” scam.
- Introduce clear absence regulations and internal control mechanisms. For example, in the case of unusual transfer orders, before a transaction:
- Check whether the sender address of the email is correct.
- It is checked whether the payment request actually comes from the named client, e.g. via a callback.
- The management or supervisor must be informed.
- If you have any abnormalities or questions, please contact your local police station or the responsible state criminal investigation office.
Source:
Police advice , T-Online
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