What does the term 'CEO fraud' refer to in cybercrime?

The term 'CEO fraud' specifically refers to a type of cybercrime known as a whaling attack, which targets high-profile individuals within an organization, such as the CEO or other executive figures. This type of fraud typically involves the impersonation of a CEO or high-ranking official through email or other communication methods to deceive employees, usually in the finance or accounting departments, into transferring money or sensitive data.

In this context, the reason 'CEO fraud' is best associated with whaling attacks is that these schemes often exploit the authority and trust associated with a CEO's position. Attackers craft messages that appear very convincing and legitimate, making it challenging for employees to recognize the fraudulent nature of the communication. This manipulation can lead to significant financial losses or breaches of sensitive information, which are hallmarks of such targeted cyber operations.

While attacks on company databases and compromising software systems may involve different techniques and motives, they aren't specifically tied to the impersonation of high-ranking executives as seen in CEO fraud. Similarly, theft of intellectual property can be a broader concept and does not focus exclusively on the personal targeting of executives. Therefore, the association between CEO fraud and whaling attacks against high-profile individuals is clear and precise.