Wire Fraud Friday
A CFO receives an email at 4:52 pm Friday. It looks like it's from the CEO.
Sarah is the CFO at a mid-size professional services firm. At 4:52 pm on a Friday, she receives an email from the CEO — his actual address, the same one she sees every day.
"Sarah — I need you to process a wire for $178K to close a vendor deal before the weekend. This is time-sensitive. I'm in a dinner with the board and can't talk. Just get it done."
The email is perfect. The tone is right. There's no reason to question it. She processes the wire. Monday morning, the CEO has no idea what she's talking about.
$178,000 transferred to a fraudulent account. Funds unrecoverable.
A code request takes five seconds. The CEO can't produce one — because it isn't him.
$2.9B lost to BEC in the US in 2023. Average wire fraud loss: $137K per incident (FBI IC3 2023).
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