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FBI warns "CEO frauds" are becoming a trend

Apr, 06, 2023 Hi-network.com
FBI issued a warning of the increasing number and sophistication of the business e-mail compromise scam (BEC), also known as "CEO fraud" or "whaling". In these attacks, perpetrators spoof company e-mail and use social engineering techniques to assume the identity of the CEO, luring employees -especially the financial departments -to transfer funds to third party accounts. Such attacks target businesses and result with massive financial losses, according to the FBI.

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