Wednesday 3rd May, 2017
According to The Dutch National Anti-Fraud Hotline staff at a Dutch subsidiary of a foreign company feared that they had lost €240,000 in a scam.
Staff at the company had fallen victim to CEO impersonation fraud, a type of scam in which criminals pose as a Chief Executive Officer. Their objective is to talk finance staff into making a large payment to a third party abroad.
This time, a Dutch employee of the company thought he had carried out an order from his highest boss when he transferred € 240,000 to a Chinese bank account. The payment was supposedly related to a secret acquisition. Soon afterwards, it emerged that the payment had been ordered by scammers using the CEO’s name.
The helpdesk alerted the Dutch Police’s High Tech Crime Team after the fraud was reported. Relief came after several highly stressful days when he learned that the money had returned to his company’s bank account, with the payment description ‘cancellation’.
How the bank managed to recover the money is not known to Fraud Help Desk.