Business email compromise - A 5 billion annual theft

CEO Fraud: A $5 Billion Annual Threat

Did you know that every year, $5 billion is stolen through CEO fraud?

This alarming figure comes directly from FBI data over the past 10 years: Business Email Compromise: The $55 Billion Scam

This threat, amplified by the emergence of deepfakes, poses an invisible yet very real danger to your business. Deepfakes, digital manipulations that create incredibly realistic videos and audio, have become the weapon of choice for cybercriminals. Imagine this: a simple phone call from your CEO, the voice, the intonation, everything is perfectly imitated. They ask you to make an urgent transfer for a confidential operation. How can you not fall into the trap?

Faced with this growing threat, traditional recommendations are no longer enough. Agencies advise “being careful,” being wary of unusual requests, verifying information through another channel. While it’s always wise to be cautious and apply best practices, they are not enough.

Recent examples

The reality is, when confronted with a well-crafted deepfake, no human, regardless of their training or level of vigilance, can distinguish it from the real thing. It’s not about human error. Companies like Arup HK recently lost $25 million, the payer being deceived by verification and 4 deepfakes of known individuals. There was no negligence to report.

Ferrari, despite having robust security protocols, came very close to being robbed. The criminals perfectly mimicked the voice, accent, and Sicilian expressions of the CEO.

Deepfake detectors, meant to protect us, are proving ineffective, especially for voice. Their reliability is far from guaranteed, and cybercriminals are always on the lookout for new techniques to circumvent them. Only a proactive and innovative approach can effectively protect you.

How to Establish a Modern, Efficient, and Trustworthy Validation Process?

Faced with this reality, it’s clear that a new approach to the problem is needed. That’s why we created Sealfie, a solution that combines the ultra-simplicity of a mobile application requiring no training with the involvement of cyber experts in validating internal processes, which are generally based on oral exchanges and rely on a single person without Sealfie.

Email: contact@inkan.link - Phone: +33183643971