How much do you really know about advanced phishing threats? Phishing threats are designed to
deceive you and to result in shocking levels of business compromise. They can ultimately cost you
your organization’s reputation and millions of dollars in losses. On average, scammers siphon off
more than $47,000 per incident via fraud schemes related to executive-level phishing schemes
and impersonation attempts. The latter have cost businesses as much as $25 million.
Although CEOs don’t parade down corridors with bags of cash or checks in-hand, CEOs and
executive leadership teams should consider how they embody ideas about wealth, and historical
tropes promising streets paved with gold. Cyber criminals are after the money. In guarding against
exploit, CEOs and business leaders should focus on a combination of fraud-related knowledge
gain, recognition of advanced phishing threats, and layering defense-in-depth solutions to protect
people, systems, and assets.
KNOWLEDGE ACQUISITION: WHAT IS CEO FRAUD?
CEO fraud refers to a diverse group of deceptive practices that exploit a Chief Executive Officer for
criminal gain. Despite the characterization as “CEO fraud,” all executives are at-risk of encountering
deceptive fraud attempts.
Nearly 50% of all executive-focused cyber criminal activity takes the form of phishing; hence the focus
in this report. Given executives’ proclivity to conduct business at lightning speed, it pays to slow down, to take a moment to master must-know phishing info, and to avoid a ruinous fraud situation.
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