Business Email Masquerading: How Hackers are Fooling Employees to Commit Fraud
In the past year, so-called business email compromise attacks, also known as "masquerading" and "executive impersonation," have emerged as one of the banking industry's greatest wire fraud worries. These schemes threaten to overshadow what the industry previously saw from commercial account takeover incidents.
See Also: Top 50 Security Threats
In this session, we will explore how this technique is employed to assume control of a C-level executive's email address to con lower-level employees and/or even banking staff into scheduling fraudulent wires. And while these attacks are waged against a banking institution's commercial customers, not the institution itself, banking institutions should be on high-alert for this emerging scheme.
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