A scam in which criminals impersonate the email accounts of chief executives has cost businesses around the globe more than $2bn in little over two years, according to the US Federal Bureau of Investigation.
The FBI has seen a sharp increase in “business email crime,” a simple scam that is also known as “CEO fraud”, with more than 12,000 victims affected globally.
In the scam, a criminal mimics a chief executive’s email account and directs an employee to wire money to an overseas bank account. By the time the company realises it has been duped, the money is gone.
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