The fastest protection against CEO fraud and bogus invoices is a simple rule:no money leaves the company without someone checking the payment through a known, independent contact route.Call back on a number you have already saved, not the number in the email. That habit stops most scams for free.

What is CEO fraud?

CEO fraud (sometimes called "CEO fraud" or "CEO fraud") involves an impostor pretending to be your manager or owner. It often comes as an email: "Hi, I'm in a meeting and can't talk. We need to pay this vendor right away, it's urgent. Can you fix it?" The email looks genuine, has the right name and sometimes an address that is almost correct.

The trick is psychological. The deceiver createstime pressure("it's urgent"),authority("the boss asks you") andsecrecy("don't tell anyone"). Together, this causes an employee to skip the usual checks. The money is transferred, and by the time someone notices it was fake, it's usually gone for good.

What is a fake invoice?

A bogus invoice is an invoice for something you never ordered, or where the price is much higher than what you agreed to. Common variants:

  • Fake directories and registers:"Confirm your details" which in the fine print turns out to be an expensive subscription.
  • Domain and web services:invoices to "renew" a domain you do not have with the sender.
  • Office supplies:deliveries of goods you never ordered, followed by an invoice.
  • Invented late feeson invoices you have already paid.

Fraudulent invoices are not always illegal on the surface, but they are based on someone at the company paying without looking. A smaller company rarely has time to review each invoice carefully, and fraudsters know that.

How do I recognize a fraud attempt?

Be extra vigilant when any of these appear:

  • It isin a hurryand you are pressured to act quickly.
  • You are requestedchange payment accountor pay to a new account number.
  • The sender is asking youkeep it a secretfor colleagues.
  • The email address is almost correct but has a letter wrong, or a different domain.
  • The tone is unusual for the person allegedly writing.
  • You get oneinvoice without a clear orderbehind him.

Seven concrete routines that protect you

  1. Two-person rule for payments.All payments above a certain amount must be approved by two people. Set the limit today.
  2. Verify via known channel.When requesting payment or changing accounts: call the person on a number you already have, never the number in the email.
  3. Match invoice against order.No invoice is paid unless it is linked to a known order and a named customer.
  4. Create an "it's okay to ask" culture.No employee should feel stupid for double-checking a payment, even from the CEO.
  5. Lock down the email.Use two-factor authentication (an additional code in addition to the password) on all email. A lot of fraud starts with hijacked accounts.
  6. Review new suppliers.Check the organization number and contact details before the first payment.
  7. Have a plan if things go wrong.Who are you calling? The bank, the police, your IT managers. Write it down in advance.

What do I do if we have already been scammed?

Act quickly, the first thing that happens often determines whether the money can be saved:

  1. Call the bank directlyand ask them to stop or revoke the payment.
  2. Police report.It is needed for insurance and to contribute to investigations.
  3. Secure evidence:save emails, invoices and account numbers.
  4. Change password and turn on two-factorif you suspect that an account has been hacked.
  5. Inform the teamso no one falls for the same trick again.

How ZORC can help

At ZORC in Jönköping, we work with both web, system and cyber security, and run the initiative Swedish Cyber ​​Security. We help companies close the holes that fraudsters exploit: secure email with two factors, set up clear payment procedures, and train staff to recognize the attempts. Much of the protection is about habits rather than expensive tools, and there an outside review can make a big difference.

Do you want to know where you stand today?Contact ZORC for a simple safety briefing, then we go through your routines and point out what is most important to fix first.