The importance of financial risk management
CEO Fraud, phishing, ransomware, growing problems.
Companies are increasingly hit by CEO Fraud, also known as whaling. Various studies have shown that many employees in the financial administration department have to deal with such attacks and in 75% of the cases, this had a business impact. Not all cases are known to limit reputational damage. In most cases, large sums of money were looted, financial data was lost, customers were lost due to the reputational damage incurred, or the employees involved were fired.
Cybercriminals are constantly looking for ways to exploit technical or human vulnerabilities. All modern means are used, from phishing mail, social engineering, posing as CEO, fake websites, hacking, etc. to strike the blow.