Presidency Scam – Video 17 – Most Popular Internet Scams

presidency scam

This scam usually happens in a business setting. Since this course is about protecting both consumers and businesses, I thought I should at least warn you about this. Usually what happens is that the Chief financial officer will receive an email that looks like it can from the CEO asking the CFO to secretly wire transfer funds to another bank account. This is a highly sophisticated scam where lots of research is done up front before any contact is done with the target. The scammers will do a lot of recon on you, so if you’re in a situation where you acquired another company for example, the scammers will find out and tailor the message about funds needed for a special project relating to the merger. Even the president’s email signature looks the same. A lot of companies have fallen for this. That’s why I hope this module will help you in the future when you come up against these scams.

Terry Cutler

I’m Terry Cutler, the creator of Internet Safety University, an educational system helping to defend corporations and individuals against growing cyber threats. I’m a federal government-cleared cybersecurity expert (a Certified Ethical Hacker), and the founder of Cyology Labs, a first-line security defence firm headquartered in Montréal, Canada. In 2020, I wrote a bestselling book about the secrets of internet safety from the viewpoint of an ethical hacker. I’m a frequent contributor to National & Global media coverage about cyber-crime, spying, security failures, internet scams, and social network dangers families and individuals face daily.