Is That Really a Text from Your CEO… or Is It a Scam?

Imagine getting a sudden message from your boss asking for help. While out visiting customers, they say there’s a problem because someone forgot the gift cards. They urgently ask you to buy six $200 digital gift cards right away.

The sender promises you’ll be paid back today and urges you to act fast. They mention they’ll be in meetings for the next few hours, so you can’t reach them right now. They keep saying this is very important and want you to buy the gift cards as soon as possible.

If you get an unexpected request like this, do you stop to think about your options, or do you quickly grab your credit card?

Be careful with offers that seem too good or too urgent. Many employees have lost money to gift card scams, where criminals pretend to be their boss and ask for help in a hurry. If something feels strange or too simple, it’s a warning to slow down.

Employees are increasingly becoming victims of a sophisticated phishing scam. The unsuspecting employee is deceived into believing an email or text message from their company CEO, requesting the purchase of gift cards as payment for something unrelated to work. Unfortunately they become aware too late that it was not actually sent by the real boss – but instead, a clever con artist trying to pull off fraud! The employee was in a financial crunch, without any extra cash to their name.

Without the right training, about 32.4% of employees are likely to fall for a phishing scam.

Phishing scams have become a common way for criminals to steal sensitive information and cause financial loss.

Hackers use smart tricks to get employees to send money through gift card scams. By playing on emotions and unusual situations, these scammers can fool even people who are usually careful.

These tricks often make employees react in these ways:

1. The employee is afraid of not following their boss’s instructions

2. The employee jumps at the chance to save the day

3. The employee doesn’t want to disappoint their company

4. The employee may think helping will help their career

Scammers make their messages sound urgent to pressure employees to act fast. For example, they might say “the CEO will be out of touch,” which makes it hard to check if the request is real and gives little time to ask questions.

Illinois Woman Scammed Out of More Than $6,000 from a Fake CEO Email

This scam can happen in many ways, and victims can lose a lot of money. Sadly, if employees buy gift cards with their own money, companies are not responsible for the loss.

A woman from Palos Hills lost over $6,000 after she got what looked like a real request from her company’s CEO, but it turned out to be a scam.

She got an email from her boss, the company CEO, saying she was one of several employees chosen to get gift cards as a reward for her hard work. It sounded like a nice way to recognize her efforts.

The boss, who was known for being generous, ended the email by asking her to buy some gift cards and if she could help.

After she bought the gift cards from Target and Best Buy, she got another message asking her to take a photo of the cards. The request seemed harmless, and the sender politely said they needed the photos for a spreadsheet, so she agreed.

The woman thought she was helping out her boss with an important task, but quite the opposite happened. When she arrived at work later that morning and shared what had transpired, it became apparent to them both that a thief had tricked her into buying gift cards for over $6,500 – leaving this unsuspecting victim in emotional turmoil as the reality of being scammed set in.

Tips for Avoiding Costly Phishing Scams

If you get a strange request, always double-check before you do anything.

Rather than relying solely on the words of an email or text, if you haven’t heard from a friend in a while and there appears to be something a miss, take proactive steps. Stop by their place unannounced (or give them a call) to make sure everything is alright – especially when it involves anything related to money! Confirm with other means that any requests made are legitimate before taking action.

Don’t let your emotions decide what you do. Take a moment to think before you act.

Don’t be a victim of scamming – think before acting! Moments of pause and consideration can go a long way in recognizing potential scams. Take time to evaluate the situation calmly and carefully; is this too good to be true or does it seem suspicious? Developing sound judgement will help protect you from becoming prey.

It’s smart to think about your options and ask others for their advice.

Don’t rush your decisions. Ask someone you trust who understands IT to review important messages before you act. This can help you avoid costly mistakes.

Do your employees need a quick lesson on how to protect themselves from phishing?

Stop phishing scams before they start. Protect your organization with good training. Keep your team prepared for new cyber threats—contact us today for a free consultation. Don’t wait to protect your important information.