Businesses are being warned to be on their guard over a fake email fraud which is catching out unsuspecting managers and directors.
Swindon IT support company Sensata says the email phishing scam – called fake CEO or president fraud – isn’t new, but is gaining in popularity among cyber criminals and has the potential to cost companies millions of pounds.
The scam involves criminals sending sophisticated emails as if from the chief executive or senior director of a business. They are often such brilliant imitations of the style and tone of the genuine sender, that the recipient doesn’t suspect they are being conned. 
Managing director of Royal Wootton Bassett-based company Sensata, Chris Griffin, pictured, said: “What usually happens is an email will be received by, for example, the finance director or finance manager and looks as if it has come from the CEO. The email will ask the finance person to transfer a sum of money into an account and give the account’s details.
“The email looks genuine, because it will adopt the same style as the CEO’s and so the person who receives it doesn’t question its validity. There can be clues in the email – such as a request to keep the transfer confidential, or to do the transfer immediately.
“Our message is: if in any doubt, check with the person who was supposed to have sent it.”
He urged all firms to be vigilant about this phishing scam, and to be on the lookout for cybercrime in general.
“CEO fraud is just one type of cybercrime. There are many more, and the criminals are becoming increasingly sophisticated. People should be vigilant at all times,” he said.
