Every couple of weeks or so, Tom Kemp’s company gets hit by ever-more-sophisticated attempts to trick them out of large sums of money.
It started two years ago, before business email compromise — also known as CEO fraud — became as widely-known as it is today.
The email came in addressed directly to the company’s controller, asking for a wire transfer of more than $350,000. The email seemed to come from the CFO and was part of a longer chain of emails between the CFO and the CEO discussing the transfer.
“If you looked at the email thread, it looked legitimate,” said Kemp, CEO at security firm Centrify. “And there was a real bank account and a real company name associated with it.”