Hackers will target the leaders of the company, usually the CEO and the CFO, using public available information. The attackers with find out the inner workings of the company and learn the policies for financial transactions. They make a domain name as similar to the name of the company as possible, LUTHERCORP.ca vs. LUTHERRC0RP.ca, and send an email to the CFO from that false domain.
The email will claim to be from the CEO asking for a large sum of money to be wired to an account. The email will often be full long business conversations with other company executives to make it seem real and will be marked as urgent. Making it urgent often bypasses many of the regular security steps in wiring money. Once the money has been sent, there is no getting it back.
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This scam shows the biggest security flaw in a company is internal. Targeting high ranking members allows them to skip past any and all security measures that you may have in place.
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