CEO fraud, a form of business email compromise (BEC), is a scam in which a fraudster impersonates a senior executive or a known supplier to trick an employee into making an urgent, unauthorized payment. The attacker uses a spoofed or hacked email, a tone of urgency and confidentiality, and often a request to change a supplier's bank details.
It is among the costliest frauds for companies, in France especially, because it bypasses technical defenses and targets a human under pressure. There is no malware to detect: a finance employee simply follows what looks like a legitimate instruction, and a large transfer leaves for a fraudulent account.
The decisive control point is the payment itself, specifically any change to a beneficiary's bank details. A new or altered IBAN, unusual urgency, or a mismatch between the supplier on file and the account being paid are the signals that should stop a transfer.
Phacet adds an automated guard at exactly that point. The agent that detects fake IBAN fraud flags suspicious or changed bank details before payment, the agent that cleans and enriches your supplier database keeps verified supplier identities consistent, and the agent that controls supplier billing checks the payment against the real invoice. Every check is logged in a native audit trail.
CEO fraud exploits urgency and trust. Phacet inserts a tireless, automated check between the instruction and the payment, so a spoofed request meets verification before money moves.
