Business email compromise, also known as CEO fraud, is a scam in which fraudsters spoof company email accounts of senior executives or the CEO, impersonate them, and send emails to financial departments trying to deceive them into executing payments. From January 2015 to June 2016, fraudsters had stolen approximately $3.1 billion from more than 22,000 victims through this type of fraud, marking a 1,300% rise in losses. The use of the CEOs name and email address has a powerful psychological effect on employees that creates a sense of authority and legitimacy.”]