Don’t Fall Victim to CEO Fraud: Secure Your Business with These Key Strategies

Our VP of Sales, Noelle, recently received a text that was NOT from me – and it prompted me to write this quick blog post to bring awareness about CEO fraud. CEO fraud is a quickly growing threat in our digital world. It’s a type of cybercrime where criminals impersonate a senior company official, often using a trusted identity to manipulate staff into making urgent financial transactions.

Imagine receiving an urgent text message from me asking you to process a payment for a new supplier. The text seems authentic, coming from my number, with the usual friendly tone, yet something feels off. You’re looking at a classic example of CEO fraud.

To shield our organization from such malicious activities, we recommend adopting a multi-pronged approach:

Independent Verification

Don’t immediately process requests involving new suppliers or changes in bank details, even if the request appears to come from within our organization. Take the extra step to independently verify such requests. If you receive a text from me or any other senior management member asking for an urgent payment, confirm the request with our team directly before proceeding.

Employee Training

We must maintain a trained, vigilant, and confident workforce. We’re working to provide training to ensure everyone understands the risks of CEO fraud, and most importantly, feels empowered to question any unusual requests. Remember, it’s always okay to ask for clarification – safety first!

Restrict Information

We must also reconsider the amount of information we disclose publicly. This includes our website, social media, and even our out-of-office replies. The less information criminals have, the less ammunition they possess to conduct these fraudulent acts.

Let’s continue to build a culture of safety and awareness within our organization. Together, we’ll ensure that CEO fraud becomes a threat we’re well-prepared to combat.

Stay vigilant, team!

Whitney Ricci