CEO fraud is a form of spear phishing, where the top executives of an organization are the target. They suffer from account takeovers due to stolen login credentials.

Once the account takeover is successful, the business's emails are compromised, and the top executives' business emails are used to send wire transfers or at least to initiate one. Such types of attacks are also know as whaling attacks. 

These attacks often happen due to a lack of security awareness among the executives, who do not have time to commit to security awareness training. Hence, there should be security training that is especially meant for CEOs and CXOs. 

Often, organizational policies need to be revamped, in order to prevent such attacks. Authentication and authorization at stages should be a compulsory: