Fremantle Southern Europe Boss Victim Of ‘CEO Fraud’ In $1M Fake M&A Scam
deadline.comOne of Fremantle‘s leading execs in Europe has become victim of a sophisticated $1M scam. Jaime Ondarza, the Got Talent producer’s CEO in Southern Europe, was targeted by cyber criminals who posed as a senior Fremantle leader needing funds for a company acquisition in Asia.
According to the Corriere Della Sera newspaper, the scammers convinced Ondarza to transfer €937,670 ($1M) to an account in Asia, whose owner then scattered the money to dozens of other international accounts (IBANs), meaning the cash is almost impossible to trace.
The scam has become widespread in the business world. It is known as ‘CEO fraud‘ because it targets business leaders and C-suite individuals with access to large funds.
The fraud works by the criminal posing a senior leader within an organization and urging a colleague to urgently transfer money.
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