CEO targeted by fraud twice a month

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.

By Maria Korolov

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.

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