Fraud losses tied to business email compromises could exceed $1 billion this year, expert says. Masquerading schemes do not involve malware or account takeover. They use socially engineered schemes that are designed to fool a business’s accounting or administrative staff into scheduling an urgent wire transfer they believe has been requested by the CEO or other corporate executive. “Masquerading attacks” may involve a spear-phishing attack to take over a corporate executive’s legitimate email account or create a similar domain so that fraudulent emails sent appear, at a glance, to be legitimate.”]
Source: https://www.cuinfosecurity.com/biz-email-fraud-could-hit-1-billion-a-8266