CEO Fraud – Action Step One!

Action is the cure to all business growth! As it is in security awareness training being proactive instead of reactive determines success of your data.

Resolution and Restitution
Should a CEO fraud incident take place, there are immediate steps to take:

1. Contact your bank immediately
Inform them of the wire transfer in question. Give them full details of the amount, the account destination and  any other pertinent details. Ask the bank if it is possible to recall the transfer. Get put in touch with the cybersecurity department of the bank, brief them on the incident and ask for their intervention. They can contact their counterparts in the foreign bank to have them prevent the funds from being withdrawn or transferred

2. Contact law enforcement
In the U.S., the local FBI office is the place to start. The FBI, working with the U.S. Department of Treasury Financial Crimes Enforcement Network may be able to return or freeze the funds.

When contacting law enforcement, identify your incident as “BEC”, provide a brief description of the incident, and consider providing the following financial information:
• Originating Name:
• Originating Location:
• Originating Bank Name:
• Originating Bank Account Number:
• Recipient Name:
• Recipient Bank Name:
• Recipient Bank Account Number:
• Recipient Bank Location (if available):
• Intermediary Bank Name (if available):
• SWIFT Number:
• Date:
• Amount of Transaction:
• Additional Information (if available) – including “FFC”- For Further Credit; “FAV” – In Favor Of:

3. File a complaint
Visit the FBI’s Internet Crime Complaint Center (IC3) at to file your complaint.  Victims should always file a complaint regardless of dollar loss or timing of incident at and, in addition to the financial information, provide the following descriptors, in addition to the bullet points in the previous section:
• IP and/or email address of fraudulent email
• Date and time of incidents
• Incorrectly formatted invoices or letterheads
• Requests for secrecy or immediate action
• Unusual timing, requests, or wording of the fraudulent phone calls or emails
• Phone numbers of the fraudulent phone calls
• Description of any phone contact to include frequency and timing of calls
• Foreign accents of the callers
• Poorly worded or grammatically incorrect emails
• Reports of any previous email phishing activity

Next time..Action Step Two…till then Think Before You Click!

Tina Louise ~ ~ 888.871.6584



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