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CEO Fraud is a very simple and effective cyber attack that can cause significant business losses
CEO Fraud couldn’t be simpler. There’s no malware to write and no malicious code or links to implant. It’s a text only email, plain and simple – but it’s the social engineering that makes it work.
Due to its simplicity, these spoofing attacks are one of the fastest growing forms of cyber crime. During the period from Oct. 2013 to April 4, 2016, the FBI reported losses due to this kind of attack total a record $2.3 billion.