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In the “Phantom Deal” scheme, attackers identified someone on a target company's legal team and impersonated an executive through WhatsApp. They claimed a massive, confidential corporate acquisition was underway and eventually demanded a transfer of €626,735.45 to a company in Hong Kong.
The attack relied on urgency, secrecy, executive impersonation, and fear of being responsible for disrupting a major transaction. Those pressures can make an unusual payment request feel legitimate.
What verification process should be mandatory before an executive or legal team member can authorize a high-value transfer?
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#SocialEngineering #Fraud #SecurityWeekly #Cybersecurity #InformationSecurity #AI #InfoSec
The attack relied on urgency, secrecy, executive impersonation, and fear of being responsible for disrupting a major transaction. Those pressures can make an unusual payment request feel legitimate.
What verification process should be mandatory before an executive or legal team member can authorize a high-value transfer?
Subscribe to our podcasts: https://securityweekly.com/subscribe
#SocialEngineering #Fraud #SecurityWeekly #Cybersecurity #InformationSecurity #AI #InfoSec