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ga - My company is receiving emails from someone pretending to be the CEO who is asking for monies to be wired to a ‘supplier’. What is happening?

This is a CEO frauds/redirection mail online scam. A company finance officer receives an email which appears to be from the Chief Executive Officer saying that he is closing an important deal with a supplier and he needs a payment processed immediately. The deal is hush-hush and he is not able to discuss it but will reveal all when his meeting ends. He is not available but wants an immediate confirmation that the payment has been made. However the supplier has a new bank account into which the payment should be made. He supplies the account details of the new account. The tone of the email or the person’s position within the company suggests that the finance officer shouldn’t argue so the payment is processed. However the email is fake and the account has nothing to do with the supplier. By the time the fraud is noticed the money has been transferred out of the account. Always check email addresses for subtle differences such as Michael@domaine.com instead of Micheal@domaine.com and have an authentication process in place for changes in payment processes. If in doubt call the executive or wait.