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Business Executive Scam

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Definition Edit

The Business Executive Scam (BES) is

a type of phishing. The potential victim receives an email that appears to come from their employer's human resources or technical support department. Fraudsters create email addresses that mimic that of the real departments. An email message will be sent to the accounting department advising that the "executive" is working off-site and has identified an outstanding payment that needs to be made as soon as possible. The "executive" instructs the payment to be made and provides a name and a bank account where the funds, generally a large dollar amount, are to be sent. Losses are typically in excess of $100,000.[1]

References Edit

  1. Cybersecurity Best Practices Guide, at 10.

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