CEO Fraud: Choose the Right Anti-Fraud System to Minimize Risks

Choose the Right Anti-fraud System, Software and Partner to Minimize the Chance of Becoming a CEO Fraud Victim

CEO fraud attacks are on the rise and can occur in all types of organizations. Though you may have the mentality that “my organization will never become a victim,” the today’s business environment is so volatile, and every business can be attacked. Therefore, taking measures to ensure that your business is safe from such whaling attacks is important. This article will focus on why choosing your anti-fraud partner carefully can help you prevent the CEO fraud attacks.

If you partner with a financial institution that will keep you informed on fraud developments you are likely to have up-to-date information and be in a better position to act appropriately. Note that we are dedicated to and have also invested in helping to protect your organization from fraud.

As your partner in cyber fraud prevention, we can and will do the following for you:

  • Keep you updated on relevant fraud industry statistics, information, and trends
  • Help you in identifying fraud activities before they take place in your organization to minimize your company losses
  • Advice you on the best practices when it comes to preventing the fraud attempts. For example, we recommend using a standalone PC for banking. Besides, we find it important that you review your systems for any weaknesses that fraudsters can use to attack your organization.
  • Help you come up with a two factor authentication where the transfer of funds will need to be authenticated by two different employees. With that, your employees will be able to spot fraud activities early enough to stop them.
  • Offer the necessary fraud protection procedures and products that will help you notice and prevent CEO email fraud scams.

To be able to fight or prevent CEO fraud attacks in your organization, you will need IT solutions which go beyond above awareness creation. Some challenges simply require robust technology to counter. Note that CEO fraudsters use methods that might not be filtered easily by technology, by intending to impersonate a senior employee and use contact information that belongs to the employe will be highly convincing. Still some key cyber security giants and email platform vendors founds ways to recognize and filter these fraud emails at enterprise scale before even reaching potential targets. The anti-phishing software / anti-virus software vendors and consultancy firms we have on our trusted watch lists are:

 

However, the good news is that with technology, awareness and procedural measures we can largely prevent these attacks from hitting our organizations. You can subscribe to our newsletter for updates and tips on how to detect, prevent, and fight CEO frauds together with us. Besides, you can schedule a meeting or a call with us to inquire about anything regarding CEO fraud prevention.

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