Impersonation fraud scenarios: How to protect, detect and respond

Mario Bruno

Cyber Security: A Peer-Reviewed Journal, 2019, vol. 3, issue 1, 6-13

Abstract: The new impersonation fraud scenario known as CEO/business e-mail compromise (BEC) fraud creates the highest concern among corporates in terms of fraud prevention, not only due to difficulties in protection and detection, but also due to risk of high financial losses. The modus operandi for impersonating someone’s identity is nothing new and not at the forefront of identity fraud; it can simply consist of a false signature on a legal document by an individual pretending to be someone they are not. The new generation fraudster will, however, attempt to exploit the digital identity rather than the personal one — or both. This paper explores how the new impersonation fraud scenarios may result in significant financial losses and offers advice on how to protect, detect and mitigate this emerging threat.

Keywords: BEC; CEO; risk; fraud; compromise; mitigation (search for similar items in EconPapers)
JEL-codes: M15 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aza:csj000:y:2019:v:3:i:1:p:6-13

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