In law enforcement, they call this scam the “Business Email Compromise.” We refer to it as the “Boss Scam” or “CEO Scam.” What happens is that someone contacts a person inside a business, pretending to be the chief executive officer or other boss-like person. They ask for one of two things: a wire transfer, or personal information about the employees under the real boss’s charge. Both scams are still going strong, and a new FBI report says that the scammers have taken at least $2.3 billion since 2013. [More]
Business E-mail Compromise scam
Scammers Are Taking More Money With Fake Boss Wire Transfer Schemes
By 3.10.15
So much business is conducted over e-mail now that in some offices, it might be routine to receive an e-mail from your boss telling you where to wire a large amount of money. That’s why the Business E-mail Compromise scam, or CEO Scam, is so plausible and devastatingly effective. Since the last time we discussed this scam, scammers stole more than $17 million from one firm in a single transaction. [More]
